reglab/housing_qa huggingface dataset:
MT Code § 30-3-124 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 1. Short Title, Form, and Interpretation|30-3-124. Subject matter

  30-3-124. Subject matter. (1) This chapter applies to negotiable instruments. It does not apply to money or to payment orders governed by chapter 4A. A negotiable instrument that is also a certificated security under 30-8-112(1)(d) is subject to chapter 8 and to this chapter.   (2) In the event of conflict between the provisions of this chapter and those of chapter 4, chapter 8, or chapter 9A, the provisions of chapter 4, chapter 8, and chapter 9A prevail over those of this chapter.   (3) Regulations of the board of governors of the federal reserve system and operating circulars of the federal reserve banks supersede any inconsistent provision of this chapter to the extent of the inconsistency.   History: En. Sec. 88, Ch. 410, L. 1991; amd. Sec. 4, Ch. 536, L. 1997.
MT Code § 30-3-125 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 1. Short Title, Form, and Interpretation|30-3-125. Issue of instrument

  30-3-125. Issue of instrument. (1) "Issue" means the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person.   (2) An unissued instrument or an unissued incomplete instrument (30-3-115) that is completed is binding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionally issued or is issued for a special purpose is binding on the maker or drawer, but failure of the condition or special purpose to be fulfilled is a defense.   (3) "Issuer" applies to issued and unissued instruments and means any person that signs an instrument as maker or drawer.   History: En. Sec. 91, Ch. 410, L. 1991.
MT Code § 30-3-127 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 1. Short Title, Form, and Interpretation|30-3-127. Place of payment

  30-3-127. Place of payment. Except as otherwise provided for items in chapter 4, an instrument is payable at the place of payment stated in the instrument. If no place of payment is stated, an instrument is payable at the address of the drawee or maker stated in the instrument. If no address is stated, the place of payment is the place of business of the drawee or maker. If a drawee or maker has more than one place of business, the place of payment is any place of business of the drawee or maker chosen by the person entitled to enforce the instrument. If the drawee or maker has no place of business, the place of payment is the residence of the drawee or maker.   History: En. Sec. 98, Ch. 410, L. 1991.
MT Code § 30-3-128 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 1. Short Title, Form, and Interpretation|30-3-128. Interest

  30-3-128. Interest. (1) Unless otherwise provided in the instrument, an instrument is not payable with interest and interest on an interest-bearing instrument is payable from the date of the instrument.   (2) Interest may be stated in an instrument as a fixed or variable amount of money, or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument. If an instrument provides for interest but the amount of interest payable cannot be ascertained from the description, interest is payable at the judgment rate in effect at the place of payment of the instrument and at the time interest first accrues.   History: En. Sec. 99, Ch. 410, L. 1991.
MT Code § 30-3-129 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 1. Short Title, Form, and Interpretation|30-3-129. Contradictory terms of instrument

  30-3-129. Contradictory terms of instrument. If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers.   History: En. Sec. 101, Ch. 410, L. 1991.
MT Code § 30-3-130 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 1. Short Title, Form, and Interpretation|30-3-130. Joint and several liability -- contribution

  30-3-130. Joint and several liability -- contribution. (1) Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who are indorsing joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign.   (2) Except as provided in 30-3-424(5) or by agreement of the affected parties, a party with joint and several liability that pays the instrument is entitled to receive from any party with the same joint and several liability contribution in accordance with applicable law.   (3) Discharge of one party with joint and several liability by a person entitled to enforce the instrument does not affect the right under subsection (2) of a party with the same joint and several liability to receive contribution from the party discharged.   History: En. Sec. 103, Ch. 410, L. 1991.
MT Code § 30-3-131 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 1. Short Title, Form, and Interpretation|30-3-131. Notice of right to defend action

  30-3-131. Notice of right to defend action. In an action for breach of an obligation for which a third person is answerable over pursuant to this chapter or chapter 4, the defendant may give the third person written notice of the litigation and the person notified may then give similar notice to any other person who is answerable over. If the notice states that the person notified may come in and defend and that failure to do so will bind the person notified in an action later brought by the person giving the notice as to any determination of fact common to the two litigations, the person notified is so bound unless after seasonable receipt of the notice the person notified does come in and defend.   History: En. Sec. 106, Ch. 410, L. 1991.
MT Code § 30-3-201 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 2. Transfer and Negotiation|30-3-201. Repealed

  30-3-201. Repealed. Sec. 230, Ch. 410, L. 1991.   History: En. Sec. 3-201, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-201.
MT Code § 30-3-202 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 2. Transfer and Negotiation|30-3-202. Negotiation

  30-3-202. Negotiation. (1) "Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument to a person who thereby becomes its holder if possession is obtained from a person other than the issuer of the instrument.   (2) Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.   History: En. Sec. 3-202, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-202; amd. Sec. 107, Ch. 410, L. 1991.
MT Code § 30-3-203 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 2. Transfer and Negotiation|30-3-203. Indorsement

  30-3-203. Indorsement. (1) "Indorsement" means a signature, other than that of a maker, drawer, or acceptor, that alone or accompanied by other words is made on an instrument for the purpose of negotiating the instrument, restricting payment of the instrument, or incurring indorser's liability on the instrument, but regardless of the intent of the signer, a signature and its accompanying words is an indorsement unless the accompanying words, the terms of the instrument, the place of the signature, or other circumstances unambiguously indicate that the signature was made for a purpose other than indorsement. For the purpose of determining whether a signature is made on an instrument, a paper affixed to the instrument is a part of the instrument.   (2) "Indorser" means a person who makes an indorsement.   (3) For the purpose of determining whether the transferee of an instrument is a holder, an indorsement that transfers a security interest in the instrument is effective as an unqualified indorsement of the instrument.   (4) If an instrument is payable to a holder under a name that is not the name of the holder, indorsement may be made by the holder in the name stated in the instrument or in the holder's name, or both, but signature in both names may be required by a person paying or taking the instrument for value or collection.   History: En. Sec. 3-203, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-203; amd. Sec. 110, Ch. 410, L. 1991.
MT Code § 30-3-204 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 2. Transfer and Negotiation|30-3-204. Special indorsement -- blank indorsement -- anomalous indorsement

  30-3-204. Special indorsement -- blank indorsement -- anomalous indorsement. (1) If an indorsement is made by the holder of an instrument, whether payable to an identified person or payable to bearer, and the indorsement identifies a person to whom it makes the instrument payable, it is a "special indorsement". When specially indorsed, an instrument becomes payable to the identified person and may be negotiated only by the indorsement of that person. The principles stated in 30-3-126 apply to special indorsements.   (2) If an indorsement is made by the holder of an instrument and it is not a special indorsement, it is a "blank indorsement". When indorsed in blank, an instrument becomes payable to bearer and may be negotiated by transfer of possession alone until specially indorsed.   (3) The holder may convert a blank indorsement that consists only of a signature into a special indorsement by writing, above the signature of the indorser, words identifying the person to whom the instrument is made payable.   (4) "Anomalous indorsement" means an indorsement made by a person that is not the holder of the instrument. An anomalous indorsement does not affect the manner in which the instrument may be negotiated.   History: En. Sec. 3-204, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-204; amd. Sec. 111, Ch. 410, L. 1991.
MT Code § 30-3-206 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 2. Transfer and Negotiation|30-3-206. Repealed

  30-3-206. Repealed. Sec. 230, Ch. 410, L. 1991.   History: En. Sec. 3-206, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-206.
MT Code § 30-3-207 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 2. Transfer and Negotiation|30-3-207. Repealed

  30-3-207. Repealed. Sec. 230, Ch. 410, L. 1991.   History: En. Sec. 3-207, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-207.
MT Code § 30-3-208 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 2. Transfer and Negotiation|30-3-208. Reacquisition

  30-3-208. Reacquisition. Reacquisition of an instrument occurs if it is transferred, by negotiation or otherwise, to a former holder. A former holder that reacquires the instrument may cancel indorsements made after the reacquirer first became a holder of the instrument. If the cancellation causes the instrument to be payable to the reacquirer or to bearer, the reacquirer may negotiate the instrument. An indorser whose indorsement is canceled is discharged, and the discharge is effective against any late holder.   History: En. Sec. 3-208, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-208; amd. Sec. 113, Ch. 410, L. 1991.
MT Code § 30-3-209 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 2. Transfer and Negotiation|30-3-209. Negotiation subject to rescission

  30-3-209. Negotiation subject to rescission. (1) Negotiation is effective even if obtained:   (a) from an infant, a corporation exceeding its powers, or a person without capacity; or   (b) by fraud, duress, or mistake or in breach of duty or as part of an illegal transaction.   (2) To the extent permitted by law, negotiation may be rescinded or may be subject to other remedies, but those remedies may not be asserted against a subsequent holder in due course or a person paying the instrument in good faith and without knowledge of facts that are a basis for rescission or other remedy.   History: En. Sec. 108, Ch. 410, L. 1991.
MT Code § 30-3-210 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 2. Transfer and Negotiation|30-3-210. Rights acquired by transfer

  30-3-210. Rights acquired by transfer. (1) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument.   (2) Transfer of an instrument, regardless of whether the transfer is a negotiation, vests in the transferee any right of the transferor to enforce the instrument, including any right as a holder in due course, but the transferee may not acquire rights of a holder in due course by a transfer, directly or indirectly, from a holder in due course if the purchaser engaged in fraud or illegality affecting the instrument.   (3) Unless otherwise agreed, if an instrument is transferred for value and the transferee does not become a holder because of lack of indorsement by the transferor, the transferee has a specifically enforceable right to the unqualified indorsement of the transferor, but negotiation of the instrument does not occur until the indorsement is made.   (4) If a transferor purports to transfer less than the entire instrument, negotiation of the instrument does not occur. The transferee obtains no rights under this chapter and has only the rights of a partial assignee.   History: En. Sec. 109, Ch. 410, L. 1991.
MT Code § 30-3-301 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-301. Person entitled to enforce instrument

  30-3-301. Person entitled to enforce instrument. "Person entitled to enforce" an instrument means the holder of an instrument, a nonholder in possession of the instrument who has the rights of a holder, or a person not in possession of the instrument who is entitled to enforce the instrument pursuant to 30-3-309. A person may be a person entitled to enforce the instrument even though the person is not the owner of the instrument or is in wrongful possession of the instrument.   History: En. Sec. 3-301, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-301; amd. Sec. 114, Ch. 410, L. 1991.
MT Code § 30-3-303 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-303. Value and consideration

  30-3-303. Value and consideration. (1) An instrument is issued or transferred for value if:   (a) the instrument is issued or transferred for a promise of performance, to the extent that the promise has been performed;   (b) the transferee acquires a security interest or other lien in the instrument other than a lien obtained by judicial proceedings;   (c) the instrument is issued or transferred as payment of, or as security for, an existing obligation of any person, whether or not the obligation is due;   (d) the instrument is issued or transferred in exchange for a negotiable instrument; or   (e) the instrument is issued or transferred in exchange for the incurring of an irrevocable obligation to a third party by the person taking the instrument.   (2) "Consideration" means any consideration sufficient to support a simple contract. The drawer or maker of an instrument has a defense if the instrument is issued without consideration. If an instrument is issued for a promise of performance, the drawer or maker has a defense to the extent performance of the promise is due and the promise has not been performed. If an instrument is issued for value as stated in subsection (1), the instrument is also issued for consideration.   History: En. Sec. 3-303, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-303; amd. Sec. 116, Ch. 410, L. 1991.
MT Code § 30-3-304 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-304. Overdue instrument

  30-3-304. Overdue instrument. (1) An instrument payable on demand becomes overdue at the earliest of the following times:   (a) on the day after the day demand for payment is duly made;   (b) if the instrument is a check, 90 days after its date; or   (c) if the instrument is not a check, when the instrument has been outstanding for a period of time after its date that is unreasonably long under the circumstances of the particular case in light of the nature of the instrument and trade usage.   (2) With respect to an instrument payable at a definite time, the following rules apply:   (a) If the principal is payable in installments and a due date has not been accelerated, the instrument becomes overdue upon default under the instrument for nonpayment of an installment, and the instrument remains overdue until the default is cured.   (b) If the principal is not payable in installments and the due date has not been accelerated, the instrument becomes overdue on the day after the due date.   (c) If a due date with respect to principal has been accelerated, the instrument becomes overdue on the day after the accelerated due date.   (3) Unless the due date of principal has been accelerated, an instrument does not become overdue if there is a default in payment of interest but no default in payment of principal.   History: En. Sec. 3-304, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-304; amd. Sec. 117, Ch. 410, L. 1991.
MT Code § 30-3-305 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-305. Defenses and claims in recoupment

  30-3-305. Defenses and claims in recoupment. (1) Except as stated in subsection (2), the right to enforce the obligation of a party to pay the instrument is subject to the following:   (a) A defense of the obligor based on:   (i) infancy of the obligor to the extent that it is a defense to a simple contract;   (ii) duress, lack of legal capacity, or illegality of the transaction that nullifies the obligation of the obligor;   (iii) fraud that induced the obligor to sign the instrument with neither knowledge nor reasonable opportunity to learn of its character or its essential terms; or   (iv) discharge of the obligor in insolvency proceedings.   (b) A defense of the obligor stated in another section of this chapter or a defense of the obligor that would be available if the person entitled to enforce the instrument were enforcing a right to payment under a simple contract.   (c) A claim in recoupment of the obligor against the original payee of the instrument if the claim arose from the transaction that gave rise to the instrument. The claim of the obligor may be asserted against a transferee of the instrument only to reduce the amount owing on the instrument at the time the action is brought.   (2) The right of a holder in due course to enforce the obligation of a party to pay the instrument is subject to defenses of the obligor stated in subsection (1)(a) but is not subject to defenses of the obligor stated in subsection (1)(b) or claims in recoupment stated in subsection (1)(c) against a person other than the holder.   (3) Except as stated in subsection (4), in an action to enforce the obligation of a party to pay the instrument, the obligor may not assert against the person entitled to enforce the instrument a defense, claim in recoupment, or claim to the instrument (30-3-306) of another person, but the other person's claim to the instrument may be asserted by the obligor if the other person is joined in the action and personally asserts the claim against the person entitled to enforce the instrument. An obligor is not obliged to pay the instrument if the person seeking enforcement of the instrument does not have rights of a holder in due course and the obligor proves that the instrument is a lost or stolen instrument.   (4) In an action to enforce the obligation of an accommodation party to pay an instrument, the accommodation party may assert against the person entitled to enforce the instrument any defense or claim in recoupment under subsection (1) that the accommodated party could assert against the person entitled to enforce the instrument, except the defenses of discharge in insolvency proceedings, infancy, or lack of legal capacity.   History: En. Sec. 3-305, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-305; amd. Sec. 118, Ch. 410, L. 1991.
MT Code § 30-3-306 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-306. Claims to an instrument

  30-3-306. Claims to an instrument. A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.   History: En. Sec. 3-306, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-306; amd. Sec. 119, Ch. 410, L. 1991.
MT Code § 30-3-307 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 3. Uniform Commercial Code Negotiable Instruments|Part 3. Rights of a Holder|30-3-307. Proof of signatures and status as holder in due course

  30-3-307. Proof of signatures and status as holder in due course. (1) In an action with respect to an instrument, the authenticity of and authority to make each signature on the instrument is admitted unless specifically denied in the pleadings. If the validity of a signature is denied in the pleadings, the burden of establishing validity is on the person claiming validity, but the signature is presumed to be authentic and authorized unless the action is to enforce the liability of the purported signer and the signer is dead or incompetent at the time of trial of the issue of validity of the signature. If an action to enforce the instrument is brought against a person as the undisclosed principal of a person who signed the instrument as a party to the instrument, the plaintiff has the burden of establishing that the defendant is liable on the instrument as a represented person pursuant to 30-3-403(1).   (2) If the validity of signatures is admitted or proved and there is compliance with subsection (1), a plaintiff producing the instrument is entitled to payment if the plaintiff proves entitlement to enforce the instrument under 30-3-301, unless the defendant proves a defense or claim in recoupment. If a defense or claim in recoupment is proved, the right to payment of the plaintiff is subject to the defense or claim except to the extent the plaintiff proves that the plaintiff has rights of a holder in due course that are not subject to the defense or claim.   History: En. Sec. 3-307, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-307; amd. Sec. 121, Ch. 410, L. 1991.