Utah Statutes
§ 70A-3-407 — Alteration.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-3 Uniform Commercial Code - Negotiable Instruments·Part 70A-3-4 Liability of Parties
(1)"Alteration" means an unauthorized change in an instrument that purports to modify in any respect the obligation of a party, or an unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.
(2)Except as provided in Subsection (3), an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges a party, and the instrument may be enforced according to its original terms.
(3)A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value, in good faith and without notice of the alteration, may enforce rights with respect to the instrument according to its
Free access — add to your briefcase to read the full text and ask questions with AI
Utah § 70A-3-407 (Alteration.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Zions First National Bank v. Rocky Mountain Irrigation, Inc.
795 P.2d 658 (Utah Supreme Court, 1990)
Legislative History
Repealed and Re-enacted by Chapter 237, 1993 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.