Fla. Stat. § 673.1011
Short title
This chapter may be cited as the “Uniform Commercial Code—Negotiable Instruments.”
Florida Statutes Chapter 673 — UNIFORM COMMERCIAL CODE: NEGOTIABLE INSTRUMENTS
Florida · statute · Fla. Stat. ch. 673 · 69 active provisions
Fla. Stat. § 673.1021
Subject matter
(1) This chapter applies to negotiable instruments. It does not apply to money, to payment orders governed by chapter 670, or to securities governed by chapter 678.(2) If there is conflict between this chapter and chapter 674 or chapter 679, chapters 674 and 679 govern.(3) Regulations of the Board of Governors of the F…
Fla. Stat. § 673.1031
Definitions
(1) In this chapter, the term:(a) “Acceptor” means a drawee who has accepted a draft.(b) “Drawee” means a person ordered in a draft to make payment.(c) “Drawer” means a person who signs or is identified in a draft as a person ordering payment.(d) “Good faith” means honesty in fact and the observance of reasonable comme…
Fla. Stat. § 673.1041
Negotiable instrument
(1) Except as provided in subsections (3), (4), and (11), the term “negotiable instrument” means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it:(a) Is payable to bearer or to order at the time it is issued or first com…
Fla. Stat. § 673.1051
Issue of instrument
(1) The term “issue” means:(a) 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; or(b) If agreed to by the payee, the first transmission by the drawer to the payee of an image of an item and information derived…
Fla. Stat. § 673.1061
Unconditional promise or order
(1) Except as provided in this section, for the purposes of s. 673.1041(1), a promise or order is unconditional unless it states:(a) An express condition to payment;(b) That the promise or order is subject to or governed by another writing; or(c) That rights or obligations with respect to the promise or order are state…
Fla. Stat. § 673.1071
Instrument payable in foreign money
Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is…
Fla. Stat. § 673.1081
Payable on demand or at definite time
(1) A promise or order is “payable on demand” if it:(a) States that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder; or(b) Does not state any time of payment.(2) A promise or order is “payable at a definite time” if it is payable on elapse of a definite period of…
Fla. Stat. § 673.1091
Payable to bearer or to order
(1) A promise or order is “payable to bearer” if it:(a) States that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment;(b) Does not state a payee; or(c) States that it is payable to or to the order of cash or otherwise in…
Fla. Stat. § 673.1101
Identification of person to whom instrument is payable
(1) The person to whom an instrument is initially payable is determined by the intent of the person, whether or not authorized, signing as, or in the name or behalf of, the issuer of the instrument. The instrument is payable to the person intended by the signer even if that person is identified in the instrument by a n…
Fla. Stat. § 673.1111
Place of payment
Except as otherwise provided for items in chapter 674, an instrument is payable at the place of payment stated in the instrument. If no place of payment is stated, an instrument is payable at the address of the drawee or maker stated in the instrument. If no address is stated, the place of payment is the place of busin…
Fla. Stat. § 673.1121
Interest
(1) Unless otherwise provided in the instrument:(a) An instrument is not payable with interest; and(b) Interest on an interest-bearing instrument is payable from the date of the instrument.(2) Interest may be stated in an instrument as a fixed or variable amount of money, or it may be expressed as a fixed or variable r…
Fla. Stat. § 673.1131
Date of instrument
(1) An instrument may be antedated or postdated. The date stated determines the time of payment if the instrument is payable at a fixed period after date. Except as provided in s. 674.401(3), an instrument payable on demand is not payable before the date of the instrument.(2) If an instrument is undated, its date is th…
Fla. Stat. § 673.1141
Contradictory terms of instrument
If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers.
Fla. Stat. § 673.1151
Incomplete instrument
(1) The term “incomplete instrument” means a signed writing, whether or not issued by the signer, the contents of which show at the time of signing that it is incomplete but that the signer intended it to be completed by the addition of words or numbers.(2) Subject to subsection (3), if an incomplete instrument is an i…
Fla. Stat. § 673.1161
Joint and several liability; contribution
(1) Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who indorse as joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign.(2) Except as provided in s. 673.4191(5) o…
Fla. Stat. § 673.1171
Other agreements affecting instrument
Subject to applicable law regarding exclusion of proof of contemporaneous or previous agreements, the obligation of a party to an instrument to pay the instrument may be modified, supplemented, or nullified by a separate agreement of the obligor and a person entitled to enforce the instrument, if the instrument is issu…
Fla. Stat. § 673.1181
Statute of limitations
Chapter 95 governs when an action to enforce an obligation, duty, or right arising under this chapter must be commenced.
Fla. Stat. § 673.1191
Notice of right to defend action
In an action for breach of an obligation for which a third person is answerable over pursuant to this chapter or chapter 674, the defendant may give the third person written notice of the litigation, and the person notified may then give similar notice to any other person who is answerable over. If the notice states th…
Fla. Stat. § 673.2011
Negotiation
(1) The term “negotiation” means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.(2) Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of posse…
Fla. Stat. § 673.2021
Negotiation subject to rescission
(1) Negotiation is effective even if obtained:(a) From an infant, a corporation exceeding its powers, or a person without capacity;(b) By fraud, duress, or mistake; or(c) In breach of duty or as part of an illegal transaction.(2) To the extent permitted by other law, negotiation may be rescinded or may be subject to ot…
Fla. Stat. § 673.2031
Transfer of instrument; rights acquired by transfer
(1) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument.(2) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of the transferor to enfor…
Fla. Stat. § 673.2041
Indorsement
(1) The term “indorsement” means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is made on an instrument for the purpose of negotiating the instrument, restricting payment of the instrument, or incurring indorser’s liability on the instrument; but, regar…
Fla. Stat. § 673.2051
Special indorsement; blank indorsement; anomalous indorsement
(1) If an indorsement is made by the holder of an instrument, whether payable to an identified person or payable to bearer, and the indorsement identifies a person to whom it makes the instrument payable, it is a “special indorsement.” When specially indorsed, an instrument becomes payable to the identified person and…
Fla. Stat. § 673.2061
Restrictive indorsement
(1) An indorsement limiting payment to a particular person or otherwise prohibiting further transfer or negotiation of the instrument is not effective to prevent further transfer or negotiation of the instrument.(2) An indorsement stating a condition to the right of the indorsee to receive payment does not affect the r…
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