Statute · New York Uniform Commercial Code
N.Y. U.C.C. Law § 3-102 — Definitions and Index of Definitions
N.Y. U.C.C. Law § 3-102
- Type
- Statute
- Source
- New York Uniform Commercial Code
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
Section 3--102. Definitions and Index of Definitions.
Citator
N.Y. U.C.C. Law § 3-102 — Definitions and Index of Definitions is in force in the current edition of the Code, and nothing recorded condemns it.
Section 3--102. Definitions and Index of Definitions.
(1) In this Article unless the context otherwise requires
(a) "Issue" means:
(i) the first delivery of an instrument to a holder or a
remitter; or
(ii) if agreed by the payee, the first transmission by the drawer
to the payee of an image of an item and information derived
from the item that enables the depositary bank to collect the
item by transferring or presenting under federal law an
electronic check.
(b) An "order" is a direction to pay and must be more than an
authorization or request. It must identify the person to pay
with reasonable certainty. It may be addressed to one or more
such persons jointly or in the alternative but not in
succession.
(c) A "promise" is an undertaking to pay and must be more than an
acknowledgment of an obligation.
(d) "Secondary party" means a drawer or endorser.
(e) "Instrument" means a negotiable instrument.
(2) Other definitions applying to this Article and the sections in which they appear are:
"Acceptance". Section 3--410.
"Accommodation party". Section 3--415.
"Alteration". Section 3--407.
"Certificate of deposit". Section 3--104.
"Certification". Section 3--411.
"Check". Section 3--104.
"Definite time". Section 3--109.
"Dishonor". Section 3--507.
"Draft". Section 3--104.
"Holder in due course". Section 3--302.
"Negotiation". Section 3--202.
"Note". Section 3--104.
"Notice of dishonor". Section 3--508.
"On demand". Section 3--108.
"Presentment". Section 3--504.
"Protest". Section 3--509.
"Restrictive Indorsement". Section 3--205.
"Signature". Section 3--401.
(3) The following definitions in other Articles apply to this Article:
"Account". Section 4--104.
"Banking Day". Section 4--104.
"Clearing house". Section 4--104.
"Collecting bank". Section 4--105.
"Customer". Section 4--104.
"Depositary Bank". Section 4--105.
"Documentary Draft". Section 4--104.
"Intermediary Bank". Section 4--105.
"Item". Section 4--104.
"Midnight deadline". Section 4--104.
"Payor bank". Section 4--105.
(4) In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.