Current through P.A. Acts 2023-66
Section 3105 - Issue of instrument(a) Definition of "issue".--"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 the instrument to any person.(b) When certain instruments are binding on maker or drawer.--An unissued instrument, or an unissued incomplete instrument that is completed, is binding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionally issued or is issued for a special purpose is binding on the maker or drawer, but failure of the condition or special purpose to be fulfilled is a defense.(c) Definition of "issuer".--"Issuer" applies to issued and unissued instruments and means a maker or drawer of an instrument.1992, July 9, P.L. 507, No. 97, § 5, effective in one year.