South Carolina Statutes
§ 36-3-105 — Issue of instrument.
(a)"Issue" means the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person.
(b)An unissued instrument, or an unissued incomplete instrument that is completed, is binding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionally issued or is issued for a special purpose is binding on the maker or drawer, but failure of the condition or special purpose to be fulfilled is a defense.
(c)"Issuer" applies to issued and unissued instruments and means a maker or drawer of an instrument.
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South Carolina § 36-3-105 (Issue of instrument.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 10.3-105; 1966 (54) 2716; 2008 Act No. 204, SECTION 2, eff July 1, 2008.
Nearby Sections
15
§ 36-3-101
Short title.§ 36-3-102
Subject matter.§ 36-3-103
Definitions.§ 36-3-104
Negotiable instrument.§ 36-3-105
Issue of instrument.§ 36-3-106
Unconditional promise or order.§ 36-3-107
Instrument payable in foreign money.§ 36-3-108
Payable on demand or at definite time.§ 36-3-109
Payable to bearer or order.§ 36-3-111
Place of payment.§ 36-3-112
Interest.§ 36-3-113
Date of instrument.§ 36-3-114
Contradictory terms of instrument.§ 36-3-115
Incomplete instrument.