reglab/housing_qa huggingface dataset:
810 ILCS 5/3-303
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-303)Sec. 3-303.     Value and consideration.(a) An instrument is issued or transferred for value if:(1) the instrument is issued or transferred for a     promise of performance, to the extent the promise has been performed;(2) the transferee acquires a security interest or     other lien in the instrument other than a lien obtained by judicial proceeding;(3) the instrument is issued or transferred as     payment of, or as security for, an antecedent claim against any person, whether or not the claim is due;(4) the instrument is issued or transferred in     exchange for a negotiable instrument; or(5) 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.(b) "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 issuer 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 (a), the  instrument is also issued for consideration.    (Source: P.A. 87-582.)
810 ILCS 5/3-304
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-304)Sec. 3-304.     Overdue instrument.(a) An instrument payable on demand becomes overdue at the earliest of  the following times:(1) on the day after the day demand for payment is     duly made;(2) if the instrument is a check, 90 days after its     date; or(3) if the instrument is not a check, when the     instrument has been outstanding for a period of time after its date which is unreasonably long under the circumstances of the particular case in light of the nature of the instrument and usage of the trade.(b) With respect to an instrument payable at a definite time the  following rules apply:(1) 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.(2) 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.(3) If a due date with respect to principal has been     accelerated, the instrument becomes overdue on the day after the accelerated due date.(c) Unless the due date of principal has been accelerated, an instrument  does not become overdue if there is default in payment of interest but no  default in payment of principal.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/3-305
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-305)Sec. 3-305. Defenses and claims in recoupment.(a) Except as stated in subsection (b), the right to enforce the  obligation of a party to pay an instrument is subject to the  following:(1) a defense of the obligor based on (i) infancy of     the obligor to the extent it is a defense to a simple contract, (ii) duress, lack of legal capacity, or illegality of the transaction which, under the law, 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;(2) a defense of the obligor stated in another     Section of this Article 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; and(3) 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; but  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.(b) 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 (a)(1), but is not subject to defenses of the obligor stated in  subsection (a)(2) or claims in recoupment stated in subsection (a)(3)  against a person other than the holder.(c) Except as stated in subsection (d), 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 (Section 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.(d) 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 (a) 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.  (Source: P.A. 97-813, eff. 7-13-12.)
810 ILCS 5/3-306
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-306)Sec. 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.    (Source: P.A. 87-582.)
810 ILCS 5/3-307
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-307)Sec. 3-307.     Notice of breach of fiduciary duty.(a) In this Section:(1) "Fiduciary" means an agent, trustee, partner,     corporate officer or director, or other representative owing a fiduciary duty with respect to an instrument.(2) "Represented person" means the principal,     beneficiary, partnership, corporation, or other person to whom the duty stated in paragraph (1) is owed.(b) If (i) an instrument is taken from a fiduciary for payment or  collection or for value, (ii) the taker has knowledge of the fiduciary  status of the fiduciary, and (iii) 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, the following rules apply:(1) Notice of breach of fiduciary duty by the     fiduciary is notice of the claim of the represented person.(2) In the case of an instrument payable to the     represented person or the fiduciary, as such, the taker has notice of the breach of fiduciary duty if the instrument is (i) taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary, (ii) taken in a transaction known by the taker to be for the personal benefit of the fiduciary, or (iii) deposited to an account other than an account of the fiduciary, as such, or an account of the represented person.(3) If an instrument is issued by the represented     person or the fiduciary, as such, and made 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 an instrument is issued by the represented     person or the fiduciary, as such, to the taker as payee, the taker has notice of the breach of fiduciary duty if the instrument is (i) taken in payment of or as security for a debt known by the taker to be the personal debt of the fiduciary, (ii) taken in a transaction known by the taker to be for the personal benefit of the fiduciary, or (iii) deposited to an account other than an account of the fiduciary, as such, or an account of the represented person.   (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/3-308
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-308)Sec. 3-308.         Proof of signatures and status as holder in due  course.(a) 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 Section 3-402(a).(b) If the validity of signatures is admitted or proved and there is  compliance with subsection (a), a plaintiff producing the instrument is  entitled to payment if the plaintiff proves entitlement to enforce the  instrument under Section 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 which are not subject to the defense or claim.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/3-309
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-309)Sec. 3-309.     Enforcement of lost,  destroyed, or stolen instrument.(a) A person not in possession of an instrument is entitled to enforce  the instrument if (i) the person was in possession of the  instrument and entitled to enforce it when loss of possession occurred,  (ii) the loss of possession was not the result of a transfer by the person  or a lawful seizure, and (iii) the 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.(b) A person seeking enforcement of an instrument under subsection  (a) must prove the terms of the instrument and the person's right to  enforce the instrument.  If that proof is made, Section 3-308 applies to  the case as if 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.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/3-310
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-310)Sec. 3-310.     Effect of instrument on obligation for which taken.(a) 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.(b) Unless otherwise agreed and except as provided in subsection (a), 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, and the  following rules apply:(1) 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.(2) 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.(3) Except as provided in paragraph (4), if the check     or note is dishonored and the obligee of the obligation for which the instrument was taken is the person entitled to enforce the instrument, the obligee may enforce either the instrument or the obligation.  In the case of an instrument of a third person which is negotiated to the obligee by the obligor, discharge of the obligor on the instrument also discharges the obligation.(4) 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.(c) If an instrument other than one described in subsection (a) or (b)  is taken for an obligation, the effect is (i) that stated in subsection (a)  if the instrument is one on which a bank is liable as maker or acceptor, or  (ii) that stated in subsection (b) in any other case.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/3-311
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-311)Sec. 3-311.     Accord and satisfaction by use of instrument.(a) If a person against whom a claim is asserted  proves that (i) that person in good faith tendered an instrument to the  claimant as full satisfaction of the claim, (ii) the amount of the claim  was unliquidated or subject to a bona fide dispute, and (iii) the claimant  obtained payment of the instrument, the following subsections apply.(b) Unless subsection (c) 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.(c) Subject to subsection (d), a claim is not discharged under  subsection (b) if either of the following applies:(1) The claimant, if an organization, proves that (i)     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 (ii) the instrument or accompanying communication was not received by that designated person, office, or place.(2) The claimant, whether or not an organization,     proves that within 90 days after payment of the instrument, the claimant tendered repayment of the amount of the instrument to the person against whom the claim is asserted.  This paragraph does not apply if the claimant is an organization that sent a statement complying with paragraph (1)(i).(d) A claim is discharged if the person against whom the claim is  asserted proves that within a reasonable time before collection of the  instrument was initiated, the claimant or 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.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/Art. 3 Pt. 4 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 PART 4.      LIABILITY OF PARTIES
810 ILCS 5/3-401
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-401)Sec. 3-401.     Signature.(a) A person is not liable on an instrument unless (i) the person  signed the instrument, or (ii) the person is represented by an agent or  representative who signed the instrument and the signature is binding on  the represented person under Section 3-402.(b) A signature may be made (i) manually or by means of a device or  machine, and (ii) by the use of any name, including any trade or assumed  name, or by a word, mark, or symbol executed or adopted by a person  with present intention to authenticate a writing.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/3-402
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-402)Sec. 3-402.     Signature by representative.(a) 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.(b) If a representative signs the name of the representative to an  instrument and the signature is an authorized signature of the  represented  person, the following rules apply:(1) 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.(2) Subject to subsection (c), if (i) the form of the     signature does not show unambiguously that the signature is made in a representative capacity or (ii) 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 did not intend the representative to be liable on the instrument.(c) If a representative signs the name of the representative as drawer  of a check without indication of the representative 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.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/3-403
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-403)Sec. 3-403.     Unauthorized signature.(a) Unless otherwise provided in this Article or Article 4, 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 Article.(b) 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.(c) The civil or criminal liability of a person who makes an  unauthorized signature is not affected by any provision of this Article  which makes the unauthorized signature effective for the purposes  of this Article.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/3-404
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 3 - Negotiable Instruments

 (from Ch. 26, par. 3-404)Sec. 3-404.     Impostors; fictitious payees.(a) If an impostor, by use of the mails or otherwise, induces the issuer  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 a person who in good faith, pays the  instrument or takes it for value or for collection.(b) If (i) a person whose intent determines to whom an instrument is  payable (Section 3-110(a) or (b)) does not intend the person identified as  payee to have any interest in the instrument, or (ii) the person identified  as payee of an instrument is a fictitious person, the following rules apply  until the instrument is negotiated by special indorsement:(1) Any person in possession of the instrument is its     holder.(2) 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 a person who in good faith, pays the instrument or takes it for value or for collection.(c) Under subsection (a) or (b), an indorsement is made in the name of a  payee if (i) it is made in a name substantially similar to that of the  payee or (ii) 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.(d) With respect to an instrument to which subsection (a) or (b)  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.    (Source: P.A. 87-582; 87-1135.)