§490:3-105  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. [L 1991, c
118, pt of §1]