(1) "Acceptor" means a drawee who has accepted a draft.
(2) "Drawee" means a person ordered in a draft to make payment.
(3) "Drawer" means a person who signs or is identified in a draft as aperson ordering payment.
(4) "Good faith" means honesty in fact and the observance of reasonablecommercial standards of fair dealing.
(5) "Maker" means a person who signs or is identified in a note as a personundertaking to pay.
(6) "Order" means a written instruction to pay money signed by the persongiving the instruction. The instruction may be addressed to any person,including the person giving the instruction, or to one or more personsjointly or in the alternative but not in succession. An authorization to payis not an order unless the person authorized to pay is also instructed to pay.
(7) "Ordinary care" in the case of a person engaged in business meansobservance of reasonable commercial standards, prevailing in the area inwhich the person is located, with respect to the business in which the personis engaged. In the case of a bank that takes an instrument for processing forcollection or payment by automated means, reasonable commercial standards donot require the bank to examine the instrument if the failure to examine doesnot violate the bank's prescribed procedures and the bank's procedures do notvary unreasonably from general banking usage not disapproved by this title orTitle 8.4.
(8) "Party" means a party to an instrument.
(9) "Promise" means a written undertaking to pay money signed by the personundertaking to pay. An acknowledgment of an obligation by the obligor is nota promise unless the obligor also undertakes to pay the obligation.
(10) "Prove" with respect to a fact means to meet the burden ofestablishing the fact (§ 8.1A-201(b)(8)).
(11) "Remitter" means a person who purchases an instrument from its issuerif the instrument is payable to an identified person other than the purchaser.
(b) Other definitions applying to this title and the sections in which theyappear are:
"Acceptance," § 8.3A-409.
"Accommodated party," § 8.3A-419.
"Accommodation party," § 8.3A-419.
"Alteration," § 8.3A-407.
"Anomalous endorsement," § 8.3A-205.
"Blank endorsement," § 8.3A-205.
"Cashier's check," § 8.3A-104.
"Certificate of deposit," § 8.3A-104.
"Certified check," § 8.3A-409.
"Check," § 8.3A-104.
"Consideration," § 8.3A-303.
"Draft," § 8.3A-104.
"Holder in due course," § 8.3A-302.
"Incomplete instrument," § 8.3A-115.
"Endorsement," § 8.3A-204.
"Endorser," § 8.3A-204.
"Instrument," § 8.3A-104.
"Issue," § 8.3A-105.
"Issuer," § 8.3A-105.
"Negotiable instrument," § 8.3A-104.
"Negotiation," § 8.3A-201.
"Note," § 8.3A-104.
"Payable at a definite time," § 8.3A-108.
"Payable on demand," § 8.3A-108.
"Payable to bearer," § 8.3A-109.
"Payable to order," § 8.3A-109.
"Payment," § 8.3A-602.
"Person entitled to enforce," § 8.3A-301.
"Presentment," § 8.3A-501.
"Reacquisition," § 8.3A-207.
"Special endorsement," § 8.3A-205.
"Teller's check," § 8.3A-104.
"Transfer of instrument," § 8.3A-203.
"Traveler's check," § 8.3A-104.
"Value," § 8.3A-303.
(c) The following definitions in other titles apply to this title:
"Bank," § 8.4-105.
"Banking day," § 8.4-104.
"Clearing house," § 8.4-104.
"Collecting bank," § 8.4-105.
"Depositary bank," § 8.4-105.
"Documentary draft," § 8.4-104.
"Intermediary bank," § 8.4-105.
"Item," § 8.4-104.
"Payor bank," § 8.4-105.
"Suspends payments," § 8.4-104.
(d) In addition, Title 8.1A contains general definitions and principles ofconstruction and interpretation applicable throughout this title.
(Code 1950, § 6-544; 1964, c. 219, §§ 8.3-102, 8.3-118; 1992, c. 693; 2003,c. 353.)
(1) "Acceptor" means a drawee who has accepted a draft.
(2) "Drawee" means a person ordered in a draft to make payment.
(3) "Drawer" means a person who signs or is identified in a draft as aperson ordering payment.
(4) "Good faith" means honesty in fact and the observance of reasonablecommercial standards of fair dealing.
(5) "Maker" means a person who signs or is identified in a note as a personundertaking to pay.
(6) "Order" means a written instruction to pay money signed by the persongiving the instruction. The instruction may be addressed to any person,including the person giving the instruction, or to one or more personsjointly or in the alternative but not in succession. An authorization to payis not an order unless the person authorized to pay is also instructed to pay.
(7) "Ordinary care" in the case of a person engaged in business meansobservance of reasonable commercial standards, prevailing in the area inwhich the person is located, with respect to the business in which the personis engaged. In the case of a bank that takes an instrument for processing forcollection or payment by automated means, reasonable commercial standards donot require the bank to examine the instrument if the failure to examine doesnot violate the bank's prescribed procedures and the bank's procedures do notvary unreasonably from general banking usage not disapproved by this title orTitle 8.4.
(8) "Party" means a party to an instrument.
(9) "Promise" means a written undertaking to pay money signed by the personundertaking to pay. An acknowledgment of an obligation by the obligor is nota promise unless the obligor also undertakes to pay the obligation.
(10) "Prove" with respect to a fact means to meet the burden ofestablishing the fact (§ 8.1A-201(b)(8)).
(11) "Remitter" means a person who purchases an instrument from its issuerif the instrument is payable to an identified person other than the purchaser.
(b) Other definitions applying to this title and the sections in which theyappear are:
"Acceptance," § 8.3A-409.
"Accommodated party," § 8.3A-419.
"Accommodation party," § 8.3A-419.
"Alteration," § 8.3A-407.
"Anomalous endorsement," § 8.3A-205.
"Blank endorsement," § 8.3A-205.
"Cashier's check," § 8.3A-104.
"Certificate of deposit," § 8.3A-104.
"Certified check," § 8.3A-409.
"Check," § 8.3A-104.
"Consideration," § 8.3A-303.
"Draft," § 8.3A-104.
"Holder in due course," § 8.3A-302.
"Incomplete instrument," § 8.3A-115.
"Endorsement," § 8.3A-204.
"Endorser," § 8.3A-204.
"Instrument," § 8.3A-104.
"Issue," § 8.3A-105.
"Issuer," § 8.3A-105.
"Negotiable instrument," § 8.3A-104.
"Negotiation," § 8.3A-201.
"Note," § 8.3A-104.
"Payable at a definite time," § 8.3A-108.
"Payable on demand," § 8.3A-108.
"Payable to bearer," § 8.3A-109.
"Payable to order," § 8.3A-109.
"Payment," § 8.3A-602.
"Person entitled to enforce," § 8.3A-301.
"Presentment," § 8.3A-501.
"Reacquisition," § 8.3A-207.
"Special endorsement," § 8.3A-205.
"Teller's check," § 8.3A-104.
"Transfer of instrument," § 8.3A-203.
"Traveler's check," § 8.3A-104.
"Value," § 8.3A-303.
(c) The following definitions in other titles apply to this title:
"Bank," § 8.4-105.
"Banking day," § 8.4-104.
"Clearing house," § 8.4-104.
"Collecting bank," § 8.4-105.
"Depositary bank," § 8.4-105.
"Documentary draft," § 8.4-104.
"Intermediary bank," § 8.4-105.
"Item," § 8.4-104.
"Payor bank," § 8.4-105.
"Suspends payments," § 8.4-104.
(d) In addition, Title 8.1A contains general definitions and principles ofconstruction and interpretation applicable throughout this title.
(Code 1950, § 6-544; 1964, c. 219, §§ 8.3-102, 8.3-118; 1992, c. 693; 2003,c. 353.)
(1) "Acceptor" means a drawee who has accepted a draft.
(2) "Drawee" means a person ordered in a draft to make payment.
(3) "Drawer" means a person who signs or is identified in a draft as aperson ordering payment.
(4) "Good faith" means honesty in fact and the observance of reasonablecommercial standards of fair dealing.
(5) "Maker" means a person who signs or is identified in a note as a personundertaking to pay.
(6) "Order" means a written instruction to pay money signed by the persongiving the instruction. The instruction may be addressed to any person,including the person giving the instruction, or to one or more personsjointly or in the alternative but not in succession. An authorization to payis not an order unless the person authorized to pay is also instructed to pay.
(7) "Ordinary care" in the case of a person engaged in business meansobservance of reasonable commercial standards, prevailing in the area inwhich the person is located, with respect to the business in which the personis engaged. In the case of a bank that takes an instrument for processing forcollection or payment by automated means, reasonable commercial standards donot require the bank to examine the instrument if the failure to examine doesnot violate the bank's prescribed procedures and the bank's procedures do notvary unreasonably from general banking usage not disapproved by this title orTitle 8.4.
(8) "Party" means a party to an instrument.
(9) "Promise" means a written undertaking to pay money signed by the personundertaking to pay. An acknowledgment of an obligation by the obligor is nota promise unless the obligor also undertakes to pay the obligation.
(10) "Prove" with respect to a fact means to meet the burden ofestablishing the fact (§ 8.1A-201(b)(8)).
(11) "Remitter" means a person who purchases an instrument from its issuerif the instrument is payable to an identified person other than the purchaser.
(b) Other definitions applying to this title and the sections in which theyappear are:
"Acceptance," § 8.3A-409.
"Accommodated party," § 8.3A-419.
"Accommodation party," § 8.3A-419.
"Alteration," § 8.3A-407.
"Anomalous endorsement," § 8.3A-205.
"Blank endorsement," § 8.3A-205.
"Cashier's check," § 8.3A-104.
"Certificate of deposit," § 8.3A-104.
"Certified check," § 8.3A-409.
"Check," § 8.3A-104.
"Consideration," § 8.3A-303.
"Draft," § 8.3A-104.
"Holder in due course," § 8.3A-302.
"Incomplete instrument," § 8.3A-115.
"Endorsement," § 8.3A-204.
"Endorser," § 8.3A-204.
"Instrument," § 8.3A-104.
"Issue," § 8.3A-105.
"Issuer," § 8.3A-105.
"Negotiable instrument," § 8.3A-104.
"Negotiation," § 8.3A-201.
"Note," § 8.3A-104.
"Payable at a definite time," § 8.3A-108.
"Payable on demand," § 8.3A-108.
"Payable to bearer," § 8.3A-109.
"Payable to order," § 8.3A-109.
"Payment," § 8.3A-602.
"Person entitled to enforce," § 8.3A-301.
"Presentment," § 8.3A-501.
"Reacquisition," § 8.3A-207.
"Special endorsement," § 8.3A-205.
"Teller's check," § 8.3A-104.
"Transfer of instrument," § 8.3A-203.
"Traveler's check," § 8.3A-104.
"Value," § 8.3A-303.
(c) The following definitions in other titles apply to this title:
"Bank," § 8.4-105.
"Banking day," § 8.4-104.
"Clearing house," § 8.4-104.
"Collecting bank," § 8.4-105.
"Depositary bank," § 8.4-105.
"Documentary draft," § 8.4-104.
"Intermediary bank," § 8.4-105.
"Item," § 8.4-104.
"Payor bank," § 8.4-105.
"Suspends payments," § 8.4-104.
(d) In addition, Title 8.1A contains general definitions and principles ofconstruction and interpretation applicable throughout this title.
(Code 1950, § 6-544; 1964, c. 219, §§ 8.3-102, 8.3-118; 1992, c. 693; 2003,c. 353.)
