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Uniform Commercial Code

NOTE: Examinees should assume that the 2001 revision to Article 1 has been adopted.

Negotiable Instruments (Commercial Paper)

I.          General UCC principles

A.     Rules of construction and application (§ 1-101, et seq.)

B.    General definitions and principles of interpretation (§ 1-102, et seq.)

II.         General provisions and definitions (§ 3-102, et seq.)

A.     Definitions (§ 3-103)

B.    Negotiable instrument, issue, unconditional promise or order (§§ 3-104 through 3-107)

C.    Payable on demand or at definite time
(§ 3-108)

D.    Payable to order or bearer; identification of payee (§§ 3-109, 3-110)

E.    Other terms (§§ 3-111 through 3-113)

F.     Contradictory terms; incomplete terms
(§§ 3-114, 3-115)

G.    Joint and several liability; contribution
(§ 3-116)

H.    Other agreements affecting instrument
(§ 3-117)

I.      Statute of limitations; notice of right to defend (§§ 3-118, 3-119)

III.        Negotiation, transfer, and indorsement (§ 3-201, et seq.)

A.     Negotiation, rescission, and transfer (§§ 3-201 through 3-203)

B.    Indorsements (§§ 3-204 through 3-206)

C.    Reacquisition (§ 3-207)

IV.        Enforcement of instruments (§§ 3-301 through 3-311)

A.     Person entitled to enforce; holder in due course (§§ 3-301, 3-302)

B.    Value and consideration (§ 3-303)

C.    Overdue instrument (§ 3-304)

D.    Defenses, claims in recoupment, and claims to an instrument (§§ 3-305, 3-306)

E.    Notice of breach of fiduciary duty (§ 3-307)

F.     Proof of signatures and status as holder in
due course (§ 3-308)

G.    Enforcement of lost, destroyed, or stolen instrument (§ 3-309)

H.    Effect of instrument on obligation for which taken; accord and satisfaction (§§ 3-310,
3-311)

V.         Liability of parties (§ 3-401, et seq.)

A.     Signature; signature by representative; un-authorized signature; impostors and fictitious payee (§§ 3-401 through 3-404)

B.    Employer’s responsibility for employee’s fraudulent indorsement (§ 3-405)

C.    Alteration; negligence contributing to forgery or alteration (§§ 3-406, 3-407)

D.    Drawee not liable on unaccepted draft (§ 3-408)

E.    Acceptance of draft, certified check;
acceptance varying draft (§§ 3-409, 3-410)

F.     Refusal to pay cashier’s, teller’s, and certified checks (§ 3-411)

G.    Obligations of issuer, acceptor, drawer, indorser (§§ 3-412 through 3-415)

H.    Transfer and presentment warranties
(§§ 3-416, 3-417)

I.      Payment or acceptance by mistake (§ 3-418)

J.     Instruments signed for accommodation
(§ 3-419)

K.    Conversion of instrument (§ 3-420)

VI.        Dishonor (presentment, dishonor, notice, excuse, evidence of dishonor) (§§ 3-501 through 3-505)

VII.       Discharge and payment (§§ 3-601 through 3-605)

A.     Discharge and effect of discharge (§ 3-601)

B.    Payment; tender of payment (§§ 3-602, 3-603)

C.    Discharge by cancellation, renunciation (§ 3-604)

D.    Discharge of indorsers, accommodation parties (§ 3-605)

 

 

MEE FAQs

Description of the MEE
Jurisdictions Using the MEE
Why Jurisdictions May Want to Implement the MEE

February 2009 MEE Questions

Agency and Partnership Question
Evidence Question
Decedents’ Estates Question
Real Property Question
Federal Civil Procedure and Conflict of Laws Question
Negotiable Instruments (Commercial Paper) Question
Torts Question
Family Law Question
Corporations Question

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