reglab/housing_qa huggingface dataset:
MT Code § 30-3-308 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-308. Notice of breach of fiduciary duty

  30-3-308. Notice of breach of fiduciary duty. (1) This section applies if an instrument is taken from a fiduciary for payment or collection or for value, the taker has knowledge of the fiduciary status of the fiduciary, and the represented person makes a claim to the instrument or its proceeds on the basis that the transaction of the fiduciary is a breach of fiduciary duty. Notice of breach of fiduciary duty by the fiduciary is notice of the claim of the represented person. "Fiduciary" means an agent, trustee, partner, corporation officer or director, or other representative owing a fiduciary duty with respect to the instrument. "Represented person" means the principal, beneficiary, partnership, corporation, or other person to whom the duty is owed.   (2) If the instrument is payable to the fiduciary, as such, or to the represented person, the taker has notice of the breach of fiduciary duty if the instrument is:   (a) taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary;   (b) taken in a transaction known by the taker to be for the personal benefit of the fiduciary; or   (c) deposited to an account other than an account of the fiduciary, as such, or an account of the represented person.   (3) If the instrument is made or drawn by the fiduciary, as such, payable to the fiduciary personally, the taker does not have notice of the breach of fiduciary duty unless the taker knows of the breach of fiduciary duty.   (4) If the instrument is made or drawn by or on behalf of the represented person to the taker as payee, the taker has notice of the breach of fiduciary duty if the instrument is:   (a) taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary;   (b) taken in a transaction known by the taker to be for the personal benefit of the fiduciary; or   (c) deposited to an account other than an account of the fiduciary, as such, or an account of the represented person.   History: En. Sec. 120, Ch. 410, L. 1991.
MT Code § 30-3-309 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-309. Enforcement of lost, destroyed, or stolen instrument

  30-3-309. Enforcement of lost, destroyed, or stolen instrument. (1) A person not in possession of an instrument is entitled to enforce the instrument if:   (a) that person was in rightful possession of the instrument and entitled to enforce it when loss of possession occurred;   (b) the loss of possession was not the result of a voluntary transfer by that person or a lawful seizure; and   (c) that person cannot reasonably obtain possession of the instrument because the instrument was destroyed, its whereabouts cannot be determined, or it is in the wrongful possession of an unknown person or a person that cannot be found or is not amenable to service of process.   (2) A person seeking enforcement of an instrument pursuant to subsection (1) shall prove the terms of the instrument and the person's right to enforce the instrument. If that proof is made, 30-3-307 applies to the case as though the person seeking enforcement had produced the instrument. The court may not enter judgment in favor of the person seeking enforcement unless it finds that the person required to pay the instrument is adequately protected against loss that might occur by reason of a claim by another person to enforce the instrument. Adequate protection may be provided by any reasonable means.   History: En. Sec. 122, Ch. 410, L. 1991.
MT Code § 30-3-310 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-310. Effect of instrument on obligation for which taken

  30-3-310. Effect of instrument on obligation for which taken. (1) Unless otherwise agreed, if a certified check, cashier's check, or teller's check is taken for an obligation, the obligation is discharged to the same extent discharge would result if an amount of money equal to the amount of the instrument were taken in payment of the obligation. Discharge of the obligation does not affect any liability that the obligor may have as an indorser of the instrument.   (2) Unless otherwise agreed and except as provided in subsection (1), if a note or an uncertified check is taken for an obligation, the obligation is suspended to the same extent the obligation would be discharged if an amount of money equal to the amount of the instrument were taken.   (3) In the case of an uncertified check, suspension of the obligation continues until dishonor of the check or until it is paid or certified. Payment or certification of the check results in discharge of the obligation to the extent of the amount of the check.   (4) In the case of a note, suspension of the obligation continues until dishonor of the note or until it is paid. Payment of the note results in discharge of the obligation to the extent of the payment.   (5) If the check or note is dishonored and the obligee of the obligation for which the instrument was taken has possession of the instrument, the obligee may enforce either the instrument or the obligation. In the case of an instrument of a third person that is negotiated to the obligee by the obligor, discharge of the obligor on the instrument also discharges the obligation.   (6) If the person entitled to enforce the instrument taken for an obligation is a person other than the obligee, the obligee may not enforce the obligation to the extent the obligation is suspended. If the obligee is the person entitled to enforce the instrument but no longer has possession of it because it was lost, stolen, or destroyed, the obligation may not be enforced to the extent of the amount payable on the instrument, and to that extent, the obligee's rights against the obligor are limited to enforcement of the instrument.   (7) If an instrument other than one described in subsection (1) or (2) is taken for an obligation, the effect is:   (a) that stated in subsection (1) if the instrument is one on which a bank is liable as maker or acceptor; or   (b) that stated in subsection (2) in any other case.   History: En. Sec. 123, Ch. 410, L. 1991.
MT Code § 30-3-311 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-311. Accord and satisfaction by use of instrument

  30-3-311. Accord and satisfaction by use of instrument. (1) This section applies if a person against whom a claim is asserted proves that:   (a) that person in good faith tendered an instrument to the claimant as full satisfaction of the claim;   (b) the amount of the claim was unliquidated or subject to a bona fide dispute; and   (c) the claimant obtained payment of the instrument.   (2) Unless subsection (3) applies, the claim is discharged if the person against whom the claim is asserted proves that the instrument or an accompanying written communication contained a conspicuous statement to the effect that the instrument was tendered as full satisfaction of the claim.   (3) Subject to subsection (4), a claim is not discharged under subsection (2) if the claimant is an organization and proves that within a reasonable time before the tender, the claimant sent a conspicuous statement to the person against whom the claim is asserted that communications concerning disputed debts, including an instrument tendered as full satisfaction of a debt, are to be sent to a designated person, office, or place and the instrument or accompanying communication was not received by that designated person, office, or place.   (4) Notwithstanding subsection (3), a claim is discharged under subsection (2) if the person against whom the claim is asserted proves that within a reasonable time before collection of the instrument was initiated, an agent of the claimant having direct responsibility with respect to the disputed obligation knew that the instrument was tendered in full satisfaction of the claim or received the instrument and any accompanying written communication.   History: En. Sec. 124, Ch. 410, L. 1991.
MT Code § 30-3-401 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-401. Signature

  30-3-401. Signature. (1) A person is not liable on an instrument unless:   (a) the person signed the instrument; or   (b) the person is represented by an agent or representative who signed the instrument and the signature is binding on the represented person under 30-3-403.   (2) A signature is made:   (a) manually or by means of a device or machine; and   (b) by use of any name, including any trade or assumed name, or by any word, mark, or symbol executed or adopted by a person with present intention to authenticate a writing.   History: En. Sec. 3-401, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-401; amd. Sec. 125, Ch. 410, L. 1991.
MT Code § 30-3-402 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-402. Repealed

  30-3-402. Repealed. Sec. 230, Ch. 410, L. 1991.   History: En. Sec. 3-402, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-402.
MT Code § 30-3-403 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-403. Signature by representative

  30-3-403. Signature by representative. (1) If a person acting, or purporting to act, as a representative signs an instrument by signing either the name of the represented person or the name of the signer, the represented person is bound by the signature to the same extent the represented person would be bound if the signature were on a simple contract. If the represented person is bound, the signature of the representative is the "authorized signature of the represented person" and the represented person is liable on the instrument, whether or not identified in the instrument.   (2) If a representative signs the name of the representative to an instrument and that signature is an authorized signature of the represented person, the following rules apply:   (a) If the form of the signature shows unambiguously that the signature is made on behalf of the represented person who is identified in the instrument, the representative is not liable on the instrument.   (b) Subject to subsection (3), if the form of the signature does not show unambiguously that the signature is made in a representative capacity, or the represented person is not identified in the instrument, the representative is liable on the instrument to a holder in due course that took the instrument without notice that the representative was not intended to be liable on the instrument. With respect to any other person, the representative is liable on the instrument unless the representative proves that the original parties to the instrument did not intend the representative to be liable on the instrument.   (3) If a representative signs the name of the representative as drawer of a check without indication of the representative's status and the check is payable from an account of the represented person who is identified on the check, the signer is not liable on the check if the signature is an authorized signature of the represented person.   History: En. Sec. 3-403, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-403; amd. Sec. 126, Ch. 410, L. 1991.
MT Code § 30-3-404 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-404. Unauthorized signatures

  30-3-404. Unauthorized signatures. (1) Unless otherwise provided in this chapter, an unauthorized signature is ineffective except as the signature of the unauthorized signer in favor of a person who in good faith pays the instrument or takes it for value. An unauthorized signature may be ratified for all purposes of this chapter.   (2) If the signature of more than one person is required to constitute the authorized signature of an organization, the signature of the organization is unauthorized if one of the required signatures is missing.   (3) The civil or criminal liability of a person who makes an unauthorized signature is not affected by any provision of this chapter that makes the unauthorized signature effective for the purposes of this chapter.   History: En. Sec. 3-404, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-404; amd. Sec. 127, Ch. 410, L. 1991.
MT Code § 30-3-405 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-405. Impostors -- fictitious payees

  30-3-405. Impostors -- fictitious payees. (1) If an impostor by use of the mails or otherwise induces the maker or drawer of an instrument to issue the instrument to the impostor or to a person acting in concert with the impostor by impersonating the payee of the instrument or a person authorized to act for the payee, an indorsement of the instrument by any person in the name of the payee is effective as the indorsement of the payee in favor of any person who in good faith pays the instrument or takes it for value or for collection.   (2) If a person whose intent determines to whom an instrument is payable (30-3-126(1) or (2)) does not intend the person identified as payee to have any interest in the instrument or if the person identified as payee of an instrument is a fictitious person, the following rules apply until the instrument is negotiated by special indorsement:   (a) Any person in possession of the instrument is its holder.   (b) An indorsement by any person in the name of the payee stated in the instrument is effective as the indorsement of the payee in favor of any person who in good faith pays the instrument or takes it for value or for collection.   (3) Under subsection (1) or (2), an indorsement is made in the name of a payee if:   (a) it is made in a name substantially similar to that of the payee; or   (b) the instrument, whether or not indorsed, is deposited in a depositary bank to an account in a name substantially similar to that of the payee.   (4) With respect to an instrument to which subsection (1) or (2) applies, if a person paying the instrument or taking it for value or for collection fails to exercise ordinary care in paying or taking the instrument and that failure substantially contributes to loss resulting from payment of the instrument, the person bearing the loss may recover from the person failing to exercise ordinary care to the extent the failure to exercise ordinary care contributed to the loss.   History: En. Sec. 3-405, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-405; amd. Sec. 128, Ch. 410, L. 1991.
MT Code § 30-3-406 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-406. Negligence contributing to forged signature or alteration of instrument

  30-3-406. Negligence contributing to forged signature or alteration of instrument. (1) A person whose failure to exercise ordinary care substantially contributes to an alteration of an instrument or to the making of a forged signature on an instrument is precluded from asserting the alteration or the forgery against a person who in good faith pays the instrument or takes it for value.   (2) If the person asserting the preclusion fails to exercise ordinary care in paying or taking the instrument and that failure substantially contributes to loss, the loss is allocated between the person precluded and the person asserting the preclusion according to the extent to which the failure of each to exercise ordinary care contributed to the loss.   (3) Under subsection (1), the burden of proving failure to exercise ordinary care is on the person asserting the preclusion. Under subsection (2), the burden of proving failure to exercise ordinary care is on the person precluded.   History: En. Sec. 3-406, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-406; amd. Sec. 130, Ch. 410, L. 1991.
MT Code § 30-3-407 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-407. Alteration

  30-3-407. Alteration. (1) "Alteration" means:   (a) an unauthorized change in an instrument that purports to modify in any respect the obligation of a party to the instrument; or   (b) an unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of any party to the instrument.   (2) Except as provided in subsection (3), an alteration fraudulently made discharges any party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges any party, and the instrument may be enforced according to its original terms.   (3) A person paying a fraudulently altered instrument or taking it for value in good faith and without notice of the alteration may enforce rights with respect to the instrument:   (a) according to its original terms; or   (b) in the case of an incomplete instrument altered by unauthorized completion, according to its terms as completed.   History: En. Sec. 3-407, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-407; amd. Sec. 131, Ch. 410, L. 1991.
MT Code § 30-3-408 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-408. Repealed

  30-3-408. Repealed. Sec. 230, Ch. 410, L. 1991.   History: En. Sec. 3-408, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-408.
MT Code § 30-3-409 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-409. Drawee not liable on unaccepted draft

  30-3-409. Drawee not liable on unaccepted draft. A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.   History: En. Sec. 3-409, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-409; amd. Sec. 132, Ch. 410, L. 1991.
MT Code § 30-3-410 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-410. Acceptance of draft -- certified check

  30-3-410. Acceptance of draft -- certified check. (1) "Acceptance" means the drawee's signed agreement to pay a draft as presented. It must be written on the draft and may consist of the drawee's signature alone. Acceptance may be made at any time and becomes effective when notification pursuant to instructions is given or the accepted draft is delivered for the purpose of giving rights on the acceptance to any person.   (2) A draft may be accepted although it has not been signed by the drawer, is otherwise incomplete, is overdue, or has been dishonored.   (3) If a draft is payable at a fixed period after sight and the acceptor fails to date the acceptance, the holder may complete the acceptance by supplying a date in good faith.   (4) "Certified check" means a check accepted by the bank on which it is drawn. Acceptance may be made as stated in subsection (1) or by a writing on the check that indicates that the check is certified. The drawee of a check has no obligation to certify the check, and refusal to certify is not dishonor of the check.   History: En. Sec. 3-410, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-410; amd. Sec. 133, Ch. 410, L. 1991.
MT Code § 30-3-411 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-411. Repealed

  30-3-411. Repealed. Sec. 230, Ch. 410, L. 1991.   History: En. Sec. 3-411, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-411.
MT Code § 30-3-412 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-412. Acceptance varying draft

  30-3-412. Acceptance varying draft. (1) If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored. In that case, the drawee may cancel the acceptance.   (2) The terms of the draft are not varied by an acceptance to pay at a particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at that bank or place.   (3) If the holder assents to an acceptance varying the terms of a draft, the obligation of each drawer and indorser that does not expressly assent to the acceptance is discharged.   History: En. Sec. 3-412, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-412; amd. Sec. 134, Ch. 410, L. 1991.
MT Code § 30-3-413 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-413. Obligation of maker

  30-3-413. Obligation of maker. (1) A maker of a note is obliged to pay the note:   (a) according to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder; or   (b) if the maker signed an incomplete instrument, according to its terms when completed as stated in 30-3-115 and 30-3-407.   (2) The obligation is owed to a person entitled to enforce the note or to an indorser that paid the note pursuant to 30-3-414.   History: En. Sec. 3-413, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-413; amd. Sec. 136, Ch. 410, L. 1991.
MT Code § 30-3-414 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 4. Liability of Parties|30-3-414. Obligation of indorser

  30-3-414. Obligation of indorser. (1) Subject to subsections (2) through (4) and to 30-3-415(4), if an instrument is dishonored, an indorser is obliged to pay the amount due on the instrument according to the terms of the instrument at the time it was indorsed or if the indorser indorsed an incomplete instrument, according to its terms when completed as stated in 30-3-115 and 30-3-407. The obligation of the indorser is owed to a person entitled to enforce the instrument or to a subsequent indorser that paid the instrument pursuant to this section.   (2) If an indorsement states that it is made "without recourse" or otherwise disclaims liability of the indorser, the indorser is not liable under subsection (1) to pay the instrument.   (3) If notice of dishonor of an instrument is required by 30-3-508 and notice of dishonor complying with that section is not given to an indorser, the liability of the indorser under subsection (1) is discharged.   (4) If a draft is accepted by a bank after an indorsement is made and the acceptor dishonors the draft, the indorser is not liable under subsection (1) to pay the instrument.   (5) If an indorser of a check is liable under subsection (1) and the check is not presented for payment or given to a depositary bank for collection within 30 days after the day the indorsement was made, the liability of the indorser under subsection (1) is discharged.   History: En. Sec. 3-414, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-414; amd. Sec. 139, Ch. 410, L. 1991.