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California Legal Forms--Transaction Guide
Copyright 2016, Matthew Bender & Company, Inc., a member of the LexisNexis Group.
22-55 California Legal Forms--Transaction Guide 55.syn
Matthew Bender Editorial Staff
The legal background begins with an overview of negotiable instruments, which are governed by Divisions 3, 4, and 9 of the California Commercial Code. Negotiable instruments function as a substitute for money in the payment of obligations or as evidence of an obligation, an extension of credit, or both, and the types include notes, drafts, checks, certificates of deposit, demand drafts, and negotiated orders of withdrawal. The legal background defines "negotiation" as the transfer of possession of a negotiable instrument by a nonissuer to a person who thereby becomes its holder, and the section covers the negotiation process, the requirements for negotiability, the effect of incomplete or altered instruments, and special, blank, and conditional endorsements. In addition, the section explains the rights and obligations of the parties involved, including the issuer, acceptor, drawer, drawee, endorser, accommodation party, warrantor, holder, nonholders in possession, persons not in possession, and holders in due course. The legal background then examines the post-negotiation procedures related to presentment, acceptance, dishonor, and discharge from liability. Finally, the section covers the limitations on retailers with respect to requesting credit card information in negotiable instrument transactions and requirements for check cashing businesses.
The chapter's transaction guide lists the facts and documents needed with respect to the underlying transaction, the parties and their finances, promissory notes, drafts, and accommodation and guarantee of collection agreements. It also contains the preliminary determinations to be made regarding the type of negotiable instrument to use and the terms of a promissory note. A procedural guide assists with procedures relating to endorsement, delivery, signatures, presentment, acceptance, and dishonor.
The forms section includes promissory notes and individual promissory note provisions. Forms related to the liability of parties to a note or other negotiable instrument, including ratification of an unauthorized signature, guarantee of payment and collection, discharge from liability, and a waiver relating to statutes of limitations, are provided. This chapter also includes forms for use in the assignment and collection of notes and other negotiable instruments. The forms are drafted for use in promissory notes; however, they may be used by an endorser to any other negotiable instrument, as applicable.
California Legal Forms: Transaction Guide (Matthew Bender) provides step-by-step guidance through all non-litigation business and personal transactions that are likely to arise in day-to-day practice, offering guidance through the drafting and filing of all the requisite forms. Topics include business organizations, real estate transactions, commercial transactions, wills and trust, contracts and obligations, performance of services, and personal transactions (including marital dissolution agreements). Each chapter includes four parts: a Research Guide, Legal Background, Transaction Guide, and Forms.
Acceptance,Acceptor,Accommodation Party,Blank Endorsement,California Commercial Code,Certificate of Deposit,Check,Check Cashing,Conditional Endorsement,Demand Draft,Discharge,Dishonor,Draft,Drawee,Drawer,Endorser,Guarantee,Holder,Holder in Due Course,Issuer,Negotiability,Negotiable Instrument,Negotiated Order of Withdrawal,Negotiation,Nonholder in Possession,Note,Presentment,Promissory Note,Special Endorsement,Warrantor
OTHER RELATED CHAPTERS: (View)
For a discussion of negotiable securities, see Ch. 6J, Issuance of Debt Securities; and Ch. 6K, Nonissuer Transactions in Investment Securities.
For a discussion of real estate financing and related security interests, see Ch. 25, Real Estate Loans; and Ch. 25A, Security Interests for Real Estate Financing.
For a discussion of lending practices and procedures involving the generation and use of negotiable instruments, see Ch. 42, Secured Transactions; Ch. 43, Commercial Loans; Ch. 44, Accounts Receivable Financing and Factoring; Ch. 45, Consumer Installment Loans and Credit Sales; Ch. 47, Automotive Financing and Vehicle Leasing; and Ch. 48, Agricultural Financing.
For a discussion of limitations in requesting certain information in credit card transactions, see Ch. 46, Credit Card and Other Open-End Credit Transactions.
For a discussion of drafts, see Ch. 56, Letters of Credit and Electronic Fund Transfers.
For general coverage of suretyship law and procedure, see Ch. 79, Suretyship, Guaranty, and Indemnity.
OTHER RELATED PUBLICATIONS:
For further discussion of negotiable instruments, see:
- Banking Law, Chs. 112-138 (Matthew Bender).
- California Forms of Pleading and Practice-Annotated, Ch. 95, Banks, Deposits, and ChecksCalifornia Forms of Pleading and Practice-Annotated, Ch. 95, Banks, Deposits, and Checks; and Ch. 385, Negotiable Instruments (Matthew Bender).
- California Points & Authorities, Ch. 166, Negotiable Instruments (Matthew BenderCalifornia Points & Authorities, Ch. 166, Negotiable Instruments (Matthew Bender).
- Forms & Procedures under the UCC, Article 3, Negotiable Instruments; Article 3, Commercial Paper; Article 4, Bank Deposits and Collections; and Article 9, Secured Transactions (Matthew Bender).
- Modern U.C.C. Litigation Forms, Article R3, Negotiable Instruments; Article 3, Commercial Paper; Articles R4 and 4, Bank Deposits and Collections; and Articles R9 and 9, Secured Transactions (Matthew Bender).