§490:3-407  Alteration.  (a) 
"Alteration" means (i) an unauthorized change in an instrument that
purports to modify in any respect the obligation of a party, or (ii) an
unauthorized addition of words or numbers or other change to an incomplete
instrument relating to the obligation of a party.



(b)  Except as provided in subsection (c), an
alteration fraudulently made discharges a party whose obligation is affected by
the alteration unless that party assents to or is precluded from asserting the
alteration.  No other alteration discharges a party, and the instrument may be
enforced according to its original terms.



(c)  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 (i) according to its original terms, or (ii) in the case of an
incomplete instrument altered by unauthorized completion, according to its
terms as completed. [L 1991, c 118, pt of §1]