§ 25-3-105. Issue of instrument. - North Carolina Statutes

§25‑3‑105.  Issue of instrument.

(a)        "Issue"means the first delivery of an instrument by the maker or drawer, whether to aholder or nonholder, for the purpose of giving rights on the instrument to anyperson.

(b)        An unissuedinstrument, or an unissued incomplete instrument that is completed, is bindingon the maker or drawer, but nonissuance is a defense. An instrument that isconditionally issued or is issued for a special purpose is binding on the makeror drawer, but failure of the condition or special purpose to be fulfilled is adefense.

(c)        "Issuer"applies to issued and unissued instruments and means a maker or drawer of aninstrument. (1899, c. 733, ss. 16, 28, 58, 59; Rev., ss. 2166,2176, 2207, 2208; C.S., ss. 2997, 3008, 3039, 3040; 1965, c. 700, s. 1; 1995,c. 232, s. 1.)