Definitions

1. Law
2. Mississippi Code
3. Regulation of Trade, Commerce and Investments
4. Uniform Commercial Code - Negotiable Instruments
5. General Provisions and Definitions
6. Definitions

In this chapter:

1. "Acceptor" means a drawee who has accepted a draft.
2. [Reserved]
3. [Reserved]
4. "Drawee" means a person ordered in a draft to make payment.
5. "Drawer" means a person who signs or is identified in a draft as a person ordering payment.
6. [Reserved]
7. "Maker" means a person who signs or is identified in a note as a person undertaking to pay.
8. "Order" means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay.
9. "Ordinary care" in the case of a person engaged in business means observance of reasonable commercial standards, prevailing in the area in which the person is located, with respect to the business in which the person is engaged. In the case of a bank that takes an instrument for processing for collection or payment by automated means, reasonable commercial standards do not require the bank to examine the instrument if the failure to examine does not violate the bank's prescribed procedures and the bank's procedures do not vary unreasonably from general banking usage not disapproved by this chapter or Chapter 4.
10. "Party" means a party to an instrument.
11. "Principal obligor," with respect to an instrument, means the accommodated party or any other party to the instrument against whom a secondary obligor has recourse under this article.
12. "Promise" means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgment of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation.
13. "Prove" with respect to a fact means to meet the burden of establishing the fact (Section 75-1-201(b)(8), Mississippi Code of 1972).
14. [Reserved]
15. "Remitter" means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser.
16. "Remotely created check" means a check that is not created by the paying bank and that does not bear a signature applied, or purported to be applied, by the person on whose account the check is drawn.
17. "Secondary obligor," with respect to an instrument, means (i) an indorser or an accommodation party, (ii) a drawer having the obligation described in Section 75-3-414(d), or (iii) any other party to the instrument that has recourse against another party to the instrument pursuant to Section 75-3-116(b).

    "Acceptance" Section 75-3-409

    "Accommodated party" Section 75-3-419

    "Accommodation party" Section 75-3-419

    "Account" Section 75-4-104

    "Alteration" Section 75-3-407

    "Anomalous indorsement" Section 75-3-205

    "Blank indorsement" Section 75-3-205

    "Cashier's check" Section 75-3-104

    "Certificate of deposit" Section 75-3-104

    "Certified check" Section 75-3-409

    "Check" Section 75-3-104

    "Consideration" Section 75-3-303

    "Draft" Section 75-3-104

    "Holder in due course" Section 75-3-302

    "Incomplete instrument" Section 75-3-115

    "Indorsement" Section 75-3-204

    "Indorser" Section 75-3-204

    "Instrument" Section 75-3-104

    "Issue" Section 75-3-105

    "Issuer" Section 75-3-105

    "Negotiable instrument" Section 75-3-104

    "Negotiation" Section 75-3-201

    "Note" Section 75-3-104

    "Payable at a definite time" Section 75-3-108

    "Payable on demand" Section 75-3-108

    "Payable to bearer" Section 75-3-109

    "Payable to order" Section 75-3-109

    "Payment" Section 75-3-602

    "Person entitled to enforce" Section 75-3-301

    "Presentment" Section 75-3-501

    "Reacquisition" Section 75-3-207

    "Special indorsement" Section 75-3-205

    "Teller's check" Section 75-3-104

    "Transfer of instrument" Section 75-3-203

    "Traveler's check" Section 75-3-104

    "Value" Section 75-3-303

    "Banking day" Section 75-4-104

    "Clearinghouse" Section 75-4-104

    "Collecting bank" Section 75-4-105

    "Depositary bank" Section 75-4-105

    "Documentary draft" Section 75-4-104

    "Intermediary bank" Section 75-4-105

    "Item" Section 75-4-104

    "Payor bank" Section 75-4-105

    "Suspends payments" Section 75-4-104

Other definitions applying to this chapter and the sections in which they appear are:

The following definitions in other chapters apply to this chapter:

In addition, Chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this chapter.

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