N.Y. U.C.C. Law § 3-406

Current through 2024 NY Law Chapters 1-49, 52, and 61-117

Section 3-406 - Negligence Contributing to Alteration or Unauthorized Signature

Any person who by his negligence substantially contributes to a material alteration of the instrument or to the making of an unauthorized signature is precluded from asserting the alteration or lack of authority against a holder in due course or against a drawee or other payor who pays the instrument in good faith and in accordance with the reasonable commercial standards of the drawee's or payor's business.

N.Y. U.c.c. Law § 3-406