reglab/housing_qa huggingface dataset:
MN Stat § 336.3-407 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-407 — Alteration.

 336.3-407 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-407 ALTERATION. (a) "Alteration" means (i) an unauthorized change in an instrument that purports to modify in any respect the obligation of a party, or (ii) an unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party. (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. No other alteration discharges a party, and the instrument may be enforced according to its original terms. (c) A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value, in good faith and without notice of the alteration, may enforce rights with respect to the instrument (i) according to its original terms, or (ii) in the case of an incomplete instrument altered by unauthorized completion, according to its terms as completed. History:   1992 c 565 s 47
MN Stat § 336.3-408 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-408 — Drawee Not Liable On Unaccepted Draft.

 336.3-408 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-408 DRAWEE NOT LIABLE ON UNACCEPTED DRAFT.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:   1992 c 565 s 48
MN Stat § 336.3-409 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-409 — Acceptance Of Draft; Certified Check.

 336.3-409 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-409 ACCEPTANCE OF DRAFT; CERTIFIED CHECK. (a) "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. (b) A draft may be accepted although it has not been signed by the drawer, is otherwise incomplete, is overdue, or has been dishonored. (c) 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. (d) "Certified check" means a check accepted by the bank on which it is drawn. Acceptance may be made as stated in subsection (a) or by a writing on the check which 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:   1992 c 565 s 49
MN Stat § 336.3-410 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-410 — Acceptance Varying Draft.

 336.3-410 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-410 ACCEPTANCE VARYING DRAFT. (a) 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. (b) The terms of a 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. (c) If the holder assents to an acceptance varying the terms of a draft, the obligation of each drawer and endorser that does not expressly assent to the acceptance is discharged. History:   1992 c 565 s 50
MN Stat § 336.3-411 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-411 — Refusal To Pay Cashier's Checks, Teller's Checks, And Certified Checks.

 336.3-411 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-411 REFUSAL TO PAY CASHIER'S CHECKS, TELLER'S CHECKS, AND CERTIFIED CHECKS. (a) In this section, "obligated bank" means the acceptor of a certified check or the issuer of a cashier's check or teller's check bought from the issuer. (b) If the obligated bank wrongfully (i) refuses to pay a cashier's check or certified check, (ii) stops payment of a teller's check, or (iii) refuses to pay a dishonored teller's check, the person asserting the right to enforce the check is entitled to compensation for expenses and loss of interest resulting from the nonpayment and may recover consequential damages if the obligated bank refuses to pay after receiving notice of particular circumstances giving rise to the damages. (c) Expenses or consequential damages under subsection (b) are not recoverable if the refusal of the obligated bank to pay occurs because (i) the bank suspends payments, (ii) the obligated bank asserts a claim or defense of the bank that it has reasonable grounds to believe is available against the person entitled to enforce the instrument, (iii) the obligated bank has a reasonable doubt whether the person demanding payment is the person entitled to enforce the instrument, or (iv) payment is prohibited by law. History:   1992 c 565 s 51
MN Stat § 336.3-412 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-412 — Obligation Of Issuer Of Note Or Cashier's Check.

 336.3-412 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-412 OBLIGATION OF ISSUER OF NOTE OR CASHIER'S CHECK. The issuer of a note or cashier's check or other draft drawn on the drawer is obliged to pay the instrument (i) 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 (ii) if the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in sections 336.3-115 and 336.3-407. The obligation is owed to a person entitled to enforce the instrument or to an endorser who paid the instrument under section 336.3-415. History:   1992 c 565 s 52
MN Stat § 336.3-413 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-413 — Obligation Of Acceptor.

 336.3-413 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-413 OBLIGATION OF ACCEPTOR. (a) The acceptor of a draft is obliged to pay the draft (i) according to its terms at the time it was accepted, even though the acceptance states that the draft is payable "as originally drawn" or equivalent terms, (ii) if the acceptance varies the terms of the draft, according to the terms of the draft as varied, or (iii) if the acceptance is of a draft that is an incomplete instrument, according to its terms when completed, to the extent stated in sections 336.3-115 and 336.3-407. The obligation is owed to a person entitled to enforce the draft or to the drawer or an endorser who paid the draft under section 336.3-414 or 336.3-415. (b) If the certification of a check or other acceptance of a draft states the amount certified or accepted, the obligation of the acceptor is that amount. If (i) the certification or acceptance does not state an amount, (ii) the amount of the instrument is subsequently raised, and (iii) the instrument is then negotiated to a holder in due course, the obligation of the acceptor is the amount of the instrument at the time it was taken by the holder in due course. History:   1992 c 565 s 53
MN Stat § 336.3-414 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-414 — Obligation Of Drawer.

 336.3-414 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-414 OBLIGATION OF DRAWER. (a) This section does not apply to cashier's checks or other drafts drawn on the drawer. (b) If an unaccepted draft is dishonored, the drawer is obliged to pay the draft (i) 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 (ii) if the drawer signed an incomplete instrument, according to its terms when completed, to the extent stated in sections 336.3-115 and 336.3-407. The obligation is owed to a person entitled to enforce the draft or to an endorser who paid the draft under section 336.3-415. (c) If a draft is accepted by a bank, the drawer is discharged, regardless of when or by whom acceptance was obtained. (d) If a draft is accepted and the acceptor is not a bank, the obligation of the drawer to pay the draft if the draft is dishonored by the acceptor is the same as the obligation of an endorser under section 336.3-415(a) and (c). (e) If a draft states that it is drawn "without recourse" or otherwise disclaims liability of the drawer to pay the draft, the drawer is not liable under subsection (b) to pay the draft if the draft is not a check. A disclaimer of the liability stated in subsection (b) is not effective if the draft is a check. (f) If (i) a check is not presented for payment or given to a depositary bank for collection within 30 days after its date, (ii) the drawee suspends payments after expiration of the 30-day period without paying the check, and (iii) because of the suspension of payments, the drawer is deprived of funds maintained with the drawee to cover payment of the check, the drawer to the extent deprived of funds may discharge its obligation to pay the check by assigning to the person entitled to enforce the check the rights of the drawer against the drawee with respect to the funds. History:   1992 c 565 s 54
MN Stat § 336.3-415 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-415 — Obligation Of Endorser.

 336.3-415 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-415 OBLIGATION OF ENDORSER. (a) Subject to subsections (b), (c), and (d) and to section 336.3-419(d), if an instrument is dishonored, an endorser is obliged to pay the amount due on the instrument (i) according to the terms of the instrument at the time it was endorsed, or (ii) if the endorser endorsed an incomplete instrument, according to its terms when completed, to the extent stated in sections 336.3-115 and 336.3-407. The obligation of the endorser is owed to a person entitled to enforce the instrument or to a subsequent endorser who paid the instrument under this section. (b) If an endorsement states that it is made "without recourse" or otherwise disclaims liability of the endorser, the endorser is not liable under subsection (a) to pay the instrument. (c) If notice of dishonor of an instrument is required by section 336.3-503 and notice of dishonor complying with that section is not given to an endorser, the liability of the endorser under subsection (a) is discharged. (d) If a draft is accepted by a bank after an endorsement is made, the liability of the endorser under subsection (a) is discharged. (e) If an endorser of a check is liable under subsection (a) and the check is not presented for payment, or given to a depositary bank for collection, within 30 days after the day the endorsement was made, the liability of the endorser under subsection (a) is discharged. History:   1992 c 565 s 55
MN Stat § 336.3-416 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-416 — Transfer Warranties.

 336.3-416 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-416 TRANSFER WARRANTIES. (a) A person who transfers an instrument for consideration warrants to the transferee and, if the transfer is by endorsement, to any subsequent transferee that: (1) the warrantor is a person entitled to enforce the instrument; (2) all signatures on the instrument are authentic and authorized; (3) the instrument has not been altered; (4) the instrument is not subject to a defense or claim in recoupment of any party which can be asserted against the warrantor; (5) the warrantor has no knowledge of any insolvency proceeding commenced with respect to the maker or acceptor or, in the case of an unaccepted draft, the drawer; and (6) with respect to a remotely created item, the person on whose account the item is drawn authorized the issuance of the item in the amount for which the item is drawn. (b) A person to whom the warranties under subsection (a) are made and who took the instrument in good faith may recover from the warrantor as damages for breach of warranty an amount equal to the loss suffered as a result of the breach, but not more than the amount of the instrument plus expenses and loss of interest incurred as a result of the breach. (c) The warranties stated in subsection (a) cannot be disclaimed with respect to checks. Unless notice of a claim for breach of warranty is given to the warrantor within 30 days after the claimant has reason to know of the breach and the identity of the warrantor, the liability of the warrantor under subsection (b) is discharged to the extent of any loss caused by the delay in giving notice of the claim. (d) A cause of action for breach of warranty under this section accrues when the claimant has reason to know of the breach. (e) A claim for breach of the warranty in subsection (a)(6) is available against a previous transferor of the item only to the extent that under applicable law (including the applicable choice-of-law principles) all previous transferors of the item made the warranty in subsection (a)(6). History:  1992 c 565 s 56; 2003 c 81 art 1 s 8; 2004 c 162 art 7 s 1
MN Stat § 336.3-418 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-418 — Payment Or Acceptance By Mistake.

 336.3-418 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-418 PAYMENT OR ACCEPTANCE BY MISTAKE. (a) Except as provided in subsection (c), if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that (i) payment of the draft had not been stopped pursuant to section 336.4-403 or (ii) the signature of the drawer of the draft was authorized, the drawee may recover the amount of the draft from the person to whom or for whose benefit payment was made or, in the case of acceptance, may revoke the acceptance. Rights of the drawee under this subsection are not affected by failure of the drawee to exercise ordinary care in paying or accepting the draft. (b) Except as provided in subsection (c), if an instrument has been paid or accepted by mistake and the case is not covered by subsection (a), the person paying or accepting may, to the extent permitted by the law governing mistake and restitution, (i) recover the payment from the person to whom or for whose benefit payment was made or (ii) in the case of acceptance, may revoke the acceptance. (c) The remedies provided by subsection (a) or (b) may not be asserted against a person who took the instrument in good faith and for value or who in good faith changed position in reliance on the payment or acceptance. This subsection does not limit remedies provided by section 336.3-417 or 336.4-407. (d) Notwithstanding section 336.4-215, if an instrument is paid or accepted by mistake and the payor or acceptor recovers payment or revokes acceptance under subsection (a) or (b), the instrument is deemed not to have been paid or accepted and is treated as dishonored, and the person from whom payment is recovered has rights as a person entitled to enforce the dishonored instrument. History:   1992 c 565 s 58
MN Stat § 336.3-420 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-420 — Conversion Of Instrument.

336.3-420 CONVERSION OF INSTRUMENT. (a) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other than a negotiation, from a person not entitled to enforce the instrument or a bank makes or obtains payment with respect to the instrument for a person not entitled to enforce the instrument or receive payment. An action for conversion of an instrument may not be brought by (i) the issuer or acceptor of the instrument or (ii) a payee or endorsee who did not receive delivery of the instrument either directly or through delivery to an agent or a co-payee. (b) In an action under subsection (a), the measure of liability is presumed to be the amount payable on the instrument, but recovery may not exceed the amount of the plaintiff's interest in the instrument. (c) A representative, other than a depositary bank, who has in good faith dealt with an instrument or its proceeds on behalf of one who was not the person entitled to enforce the instrument is not liable in conversion to that person beyond the amount of any proceeds that it has not paid out. History:   1992 c 565 s 60
MN Stat § 336.3-501 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-501 — Presentment.

 336.3-501 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-501 PRESENTMENT. (a) "Presentment" means a demand made by or on behalf of a person entitled to enforce an instrument (i) to pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank, or (ii) to accept a draft made to the drawee. (b) The following rules are subject to article 4, agreement of the parties, and clearinghouse rules and the like: (1) Presentment may be made at the place of payment of the instrument and must be made at the place of payment if the instrument is payable at a bank in the United States; may be made by any commercially reasonable means, including an oral, written, or electronic communication; is effective when the demand for payment or acceptance is received by the person to whom presentment is made; and is effective if made to any one of two or more makers, acceptors, drawees, or other payors. (2) Upon demand of the person to whom presentment is made, the person making presentment must (i) exhibit the instrument, (ii) give reasonable identification and, if presentment is made on behalf of another person, reasonable evidence of authority to do so, and (iii) sign a receipt on the instrument for any payment made or surrender the instrument if full payment is made. (3) Without dishonoring the instrument, the party to whom presentment is made may (i) return the instrument for lack of a necessary endorsement, or (ii) refuse payment or acceptance for failure of the presentment to comply with the terms of the instrument, an agreement of the parties, or other applicable law or rule. (4) The party to whom presentment is made may treat presentment as occurring on the next business day after the day of presentment if the party to whom presentment is made has established a cutoff hour not earlier than 2:00 p.m. for the receipt and processing of instruments presented for payment or acceptance and presentment is made after the cutoff hour. History:   1992 c 565 s 61
MN Stat § 336.3-503 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-503 — Notice Of Dishonor.

 336.3-503 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-503 NOTICE OF DISHONOR. (a) The obligation of an endorser stated in section 336.3-415(a) and the obligation of a drawer stated in section 336.3-414(d) may not be enforced unless (i) the endorser or drawer is given notice of dishonor of the instrument complying with this section or (ii) notice of dishonor is excused under section 336.3-504(b). (b) Notice of dishonor may be given by any person; may be given by any commercially reasonable means, including an oral, written, or electronic communication; and is sufficient if it reasonably identifies the instrument and indicates that the instrument has been dishonored or has not been paid or accepted. Return of an instrument given to a bank for collection is sufficient notice of dishonor. (c) Subject to section 336.3-504(c), with respect to an instrument taken for collection by a collecting bank, notice of dishonor must be given (i) by the bank before midnight of the next banking day following the banking day on which the bank receives notice of dishonor of the instrument, or (ii) by any other person within 30 days following the day on which the person receives notice of dishonor. With respect to any other instrument, notice of dishonor must be given within 30 days following the day on which dishonor occurs. History:   1992 c 565 s 63
MN Stat § 336.3-504 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-504 — Excused Presentment And Notice Of Dishonor.

 336.3-504 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-504 EXCUSED PRESENTMENT AND NOTICE OF DISHONOR. (a) Presentment for payment or acceptance of an instrument is excused if (i) the person entitled to present the instrument cannot with reasonable diligence make presentment, (ii) the maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings, (iii) by the terms of the instrument presentment is not necessary to enforce the obligation of endorsers or the drawer, (iv) the drawer or endorser whose obligation is being enforced has waived presentment or otherwise has no reason to expect or right to require that the instrument be paid or accepted, or (v) the drawer instructed the drawee not to pay or accept the draft or the drawee was not obligated to the drawer to pay the draft. (b) Notice of dishonor is excused if (i) by the terms of the instrument notice of dishonor is not necessary to enforce the obligation of a party to pay the instrument, or (ii) the party whose obligation is being enforced waived notice of dishonor. A waiver of presentment is also a waiver of notice of dishonor. (c) Delay in giving notice of dishonor is excused if the delay was caused by circumstances beyond the control of the person giving the notice and the person giving the notice exercised reasonable diligence after the cause of the delay ceased to operate. History:   1992 c 565 s 64
MN Stat § 336.3-505 (2021)
2021 Minnesota Statutes|Chapters 324 - 341 — Trade Regulations, Consumer Protection|Chapter 336 — Uniform Commercial Code|Section 336.3-505 — Evidence Of Dishonor.

 336.3-505 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-505 EVIDENCE OF DISHONOR. (a) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated: (1) a document regular in form as provided in subsection (b) which purports to be a protest; (2) a purported stamp or writing of the drawee, payor bank, or presenting bank on or accompanying the instrument stating that acceptance or payment has been refused unless reasons for the refusal are stated and the reasons are not consistent with dishonor; (3) a book or record of the drawee, payor bank, or collecting bank, kept in the usual course of business which shows dishonor, even if there is no evidence of who made the entry. (b) A protest is a certificate of dishonor made by a United States consul or vice consul, or a notary public or other person authorized to administer oaths by the law of the place where dishonor occurs. It may be made upon information satisfactory to that person. The protest must identify the instrument and certify either that presentment has been made or, if not made, the reason why it was not made, and that the instrument has been dishonored by nonacceptance or nonpayment. The protest may also certify that notice of dishonor has been given to some or all parties. History:   1992 c 565 s 65