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Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
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Experience:  27 years of experience in general practice, real estate law and estate law.
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What UCC statue is it that says if a negotiable instrument

Resolved Question:

What UCC statue is it that says if a negotiable instrument (like a promissory note) is altered that it releases the obligation of the debtor.

Thanks
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Attyadvisor replied 2 years ago.

Hello and thank you for your question.

Are you referring to
UCC ARTICLE 3-NEGOTIABLE INSTRUMENTS
PART 4. LIABILITY OF PARTIES § 3-407. ALTERATION

 

“(b) Except as provided in subsection (c), an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration”

Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 4457
Experience: 27 years of experience in general practice, real estate law and estate law.
Attyadvisor and other Real Estate Law Specialists are ready to help you
Customer: replied 2 years ago.

Do you have specific case law for Washington DC properties that cite this statue in a case(s) for wrongful foreclosure or quiet title action?


 


 


 


Also, do you have the UCC statue where an 'endorsed' promissory note releases the obligation of the debtor?


 


Ex:


 


Promissory note is endorsed 'Pay to the Order of Wells Fargo Bank'


 


 


 


 


 

Expert:  Attyadvisor replied 2 years ago.

Do you have specific case law for Washington DC properties that cite this statue in a case(s) for wrongful foreclosure or quiet title action? I am sorry I did not realize that you were requesting case law research. I will opt for another attorney to assist you as I will be logging off shortly.

 

Thank you for using JA!

Expert:  Attyadvisor replied 2 years ago.
Thank you.
Customer: replied 2 years ago.

Also, do you have the UCC statue where an 'endorsed' promissory note releases the obligation of the debtor?


 


 


 


Ex:


 


 


 


Promissory note is endorsed 'Pay to the Order of Wells Fargo Bank'


 


 


 


 


or is the same as you stated before


 


UCC ARTICLE 3-NEGOTIABLE INSTRUMENTS
PART 4. LIABILITY OF PARTIES § 3-407. ALTERATION


 


“(b) Except as provided in subsection (c), an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration”


 


 


 

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