§ 6A-3-105 - Issue of instrument. - Rhode Island Statutes

SECTION 6A-3-105

   § 6A-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 theinstrument to any person.

   (b) An unissued instrument, or an unissued incompleteinstrument that is completed, is binding on the maker or drawer, butnonissuance is a defense. An instrument that is conditionally issued or isissued for a special purpose is binding on the maker or drawer, but failure ofthe condition or special purpose to be fulfilled is a defense.

   (c) "Issuer" applies to issued and unissued instruments andmeans a maker or drawer of an instrument.