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2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3310 - Effect of instrument on obligation for which taken

47-3310.
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:
1. That stated in subsection A if the instrument is one on which a bank is liable as maker or acceptor;  or
2. That stated in subsection B in any other case.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3311 - Accord and satisfaction by use of instrument

47-3311.
Accord and satisfaction by use of instrument
A. If a person against whom a claim is asserted proves that the person in good faith tendered an instrument to the claimant as full satisfaction of the claim,  the amount of the claim was unliquidated or subject to a bona fide dispute and the claimant obtained payment of the instrument,  subsections B and C 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:
(a) 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
(b) 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 ninety 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,  subdivision (a).
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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3401 - Signature

47-3401.
Signature
A. A person is not liable on an instrument unless:
1. The person signed the instrument;  or
2. The person is represented by an agent or representative who signed the instrument and the signature is binding on the represented person under section 47-3402.
B. A signature may be made:
1. Manually or by means of a device or machine;  and
2. By the use of any name,  including a trade or assumed name,  or by a word,  mark or symbol executed or adopted by a person with present intention to authenticate a writing.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3402 - Signature by representative

47-3402.
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 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 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3403 - Unauthorized signature

47-3403.
Unauthorized signature
A. Unless otherwise provided in this chapter or chapter 4 of this title,  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.
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 lacking.
C. The civil or criminal liability of a person who makes an unauthorized signature is not affected by any provision of this chapter which makes the unauthorized signature effective for the purposes of this chapter.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3404 - Impostors; fictitious payees

47-3404.
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 a person whose intent determines to whom an instrument is payable (section 47-3110,  subsection A or B) does not intend the person identified as payee to have any interest in the instrument or 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 of this section,  an indorsement is made in the name of a payee if:
1. It is made in a name substantially similar to that of the payee;  or
2. 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 of this section 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3405 - Employer's responsibility for fraudulent indorsement by employee

47-3405.
Employer's responsibility for fraudulent indorsement by employee
A. In this section:
1. " Employee"  includes an independent contractor and employee of an independent contractor retained by the employer.
2. " Fraudulent indorsement"  means:
(a) In the case of an instrument payable to the employer,  a forged indorsement purporting to be that of the employer;  or
(b) In the case of an instrument with respect to which the employer is the issuer,  a forged indorsement purporting to be that of the person identified as payee.
3. " Responsibility"  with respect to instruments means authority to:
(a) Sign or indorse instruments on behalf of the employer;
(b) Process instruments received by the employer for bookkeeping purposes,  for deposit to an account or for other disposition;
(c) Prepare or process instruments for issue in the name of the employer;
(d) Supply information determining the names or addresses of payees of instruments to be issued in the name of the employer;
(e) Control the disposition of instruments to be issued in the name of the employer;  or
(f) Act otherwise with respect to instruments in a responsible capacity.
Responsibility does not include authority that merely allows an employee to have access to instruments or blank or incomplete instrument forms that are being stored or transported or are part of incoming or outgoing mail,  or similar access.
B. For the purpose of determining the rights and liabilities of a person who,  in good faith,  pays an instrument or takes it for value or for collection,  if an employer entrusted an employee with responsibility with respect to the instrument and the employee or a person acting in concert with the employee makes a fraudulent indorsement of the instrument,  the indorsement is effective as the indorsement of the person to whom the instrument is payable if it is made in the name of that person. If the 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 the fraud,  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.
C. Under subsection B,  an indorsement is made in the name of the person to whom an instrument is payable if:
1. It is made in a name substantially similar to the name of that person;  or
2. The instrument,  whether or not indorsed,  is deposited in a depositary bank to an account in a name substantially similar to the name of that person.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3406 - Negligence contributing to forged signature or alteration of instrument

47-3406.
Negligence contributing to forged signature or alteration of instrument
A. 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 or for collection.
B. Under subsection A,  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.
C. Under subsection A,  the burden of proving failure to exercise ordinary care is on the person asserting the preclusion. Under subsection B,  the burden of proving failure to exercise ordinary care is on the person precluded.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3407 - Alteration

47-3407.
Alteration
A. " Alteration"  means:
1. An unauthorized change in an instrument that purports to modify in any respect the obligation of a party;  or
2. 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:
1. According to its original terms;  or
2. In the case of an incomplete instrument altered by unauthorized completion,  according to its terms as completed.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3408 - Drawee not liable on unaccepted draft

47-3408.
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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3409 - Acceptance of draft; certified check

47-3409.
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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3410 - Acceptance varying draft

47-3410.
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 indorser that does not expressly assent to the acceptance is discharged.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3411 - Refusal to pay cashier's checks, teller's checks and certified checks

47-3411.
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 refuses to pay a cashier's check or certified check,  stops payment of a teller's check or 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:
1. The bank suspends payments;
2. 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;
3. The obligated bank has a reasonable doubt whether the person demanding payment is the person entitled to enforce the instrument;  or
4. Payment is prohibited by law.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3412 - Obligation of issuer of note or cashier's check

47-3412.
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:
1. 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
2. If the issuer signed an incomplete instrument,  according to its terms when completed,  to the extent stated in sections 47-3115 and 47-3407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 47-3415.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3413 - Obligation of acceptor

47-3413.
Obligation of acceptor
A. The acceptor of a draft is obliged to pay the draft:
1. 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;
2. If the acceptance varies the terms of the draft,  according to the terms of the draft as varied;  or
3. If the acceptance is of a draft that is an incomplete instrument,  according to its terms when completed,  to the extent stated in sections 47-3115 and 47-3407. The obligation is owed to a person entitled to enforce the draft or to the drawer or an indorser who paid the draft under section 47-3414 or 47-3415.
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 the certification or acceptance does not state an amount,  if the amount of the instrument is subsequently raised and if 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3414 - Obligation of drawer

47-3414.
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 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 if the drawer signed an incomplete instrument,  according to its terms when completed,  to the extent stated in sections 47-3115 and 47-3407. The obligation is owed to a person entitled to enforce the draft or to an indorser who paid the draft under section 47-3415.
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 indorser under section 47-3415,  subsections 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 of this section to pay the draft if the draft is not a check. A disclaimer of the liability stated in subsection B of this section is not effective if the draft is a check.
F. If a check is not presented for payment or given to a depositary bank for collection within thirty days after its date,  if the drawee suspends payments after expiration of the thirty day period without paying the check and,  because of the suspension of payments,  if 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3415 - Obligation of indorser

47-3415.
Obligation of indorser
A. Subject to subsections B,  C,  D and E of this section and to section 47-3419,  subsection D,  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,  to the extent stated in sections 47-3115 and 47-3407. The obligation of the indorser is owed to a person entitled to enforce the instrument or to a subsequent indorser who paid the instrument under this section.
B. If an indorsement states that it is made " without recourse"  or otherwise disclaims liability of the indorser,  the indorser is not liable under subsection A of this section to pay the instrument.
C. If notice of dishonor of an instrument is required by section 47-3503 and notice of dishonor complying with that section is not given to an indorser,  the liability of the indorser under subsection A of this section is discharged.
D. If a draft is accepted by a bank after an indorsement is made,  the liability of the indorser under subsection A of this section is discharged.
E. If an indorser of a check is liable under subsection A of this section and the check is not presented for payment,  or given to a depositary bank for collection,  within thirty days after the day the indorsement was made,  the liability of the indorser under subsection A of this section is discharged.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3416 - Transfer warranties

47-3416.
Transfer warranties
A. A person who transfers an instrument for consideration warrants to the transferee and,  if the transfer is by indorsement,  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;  and
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.
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 thirty 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3418 - Payment or acceptance by mistake

47-3418.
Payment or acceptance by mistake
A. Except as provided in subsection C of this section,  if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that payment of the draft had not been stopped pursuant to section 47-4403 or 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 of this section,  if an instrument has been paid or accepted by mistake and the case is not covered by subsection A of this section,  the person paying or accepting may,  to the extent permitted by the law governing mistake and restitution:
1. Recover the payment from the person to whom or for whose benefit payment was made;  or
2. In the case of acceptance,  may revoke the acceptance.
C. The remedies provided by subsection A or B of this section 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 47-3417 or 47-4407.
D. Notwithstanding section 47-4215,  if an instrument is paid or accepted by mistake and the payor or acceptor recovers payment or revokes acceptance under subsection A or B of this section,  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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3419 - Instruments signed for accommodation

47-3419.
Instruments signed for accommodation
A. If an instrument is issued for value given for the benefit of a party to the instrument (" accommodated party" ) and another party to the instrument (" accommodation party" ) signs the instrument for the purpose of incurring liability on the instrument without being a direct beneficiary of the value given for the instrument,  the instrument is signed by the accommodation party " for accommodation" .
B. An accommodation party may sign the instrument as maker,  drawer,  acceptor or indorser and,  subject to subsection D of this section,  is obliged to pay the instrument in the capacity in which the accommodation party signs. The obligation of an accommodation party may be enforced notwithstanding any statute of frauds and whether or not the accommodation party receives consideration for the accommodation.
C. A person signing an instrument is presumed to be an accommodation party and there is notice that the instrument is signed for accommodation if the signature is an anomalous indorsement or is accompanied by words indicating that the signer is acting as surety or guarantor with respect to the obligation of another party to the instrument. Except as provided in section 47-3605,  the obligation of an accommodation party to pay the instrument is not affected by the fact that the person enforcing the obligation had notice when the instrument was taken by that person that the accommodation party signed the instrument for accommodation.
D. If the signature of a party to an instrument is accompanied by words indicating unambiguously that the party is guaranteeing collection rather than payment of the obligation of another party to the instrument,  the signer is obliged to pay the amount due on the instrument to a person entitled to enforce the instrument only if:
1. Execution of judgment against the other party has been returned unsatisfied;
2. The other party is insolvent or in an insolvency proceeding;
3. The other party cannot be served with process;  or
4. It is otherwise apparent that payment cannot be obtained from the other party.
E. An accommodation party who pays the instrument is entitled to reimbursement from the accommodated party and is entitled to enforce the instrument against the accommodated party. An accommodated party who pays the instrument has no right of recourse against,  and is not entitled to contribution from,  an accommodation party.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3420 - Conversion of instrument

47-3420.
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:
1. The issuer or acceptor of the instrument;  or
2. A payee or indorsee 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3501 - Presentment

47-3501.
Presentment
A. " Presentment"  means a demand made by or on behalf of a person entitled to enforce an instrument:
1. 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
2. To accept a draft made to the drawee.
B. The following rules are subject to chapter 4 of this title,  agreement of the parties,  and clearing house rules and the like:
1. Presentment:
(a) 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;
(b) May be made by any commercially reasonable means,  including an oral,  written or electronic communication;
(c) Is effective when the demand for payment or acceptance is received by the person to whom presentment is made;  and
(d) 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:
(a) Exhibit the instrument;
(b) Give reasonable identification and,  if presentment is made on behalf of another person,  reasonable evidence of authority to do so;  and
(c) 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:
(a) Return the instrument for lack of a necessary indorsement;  or
(b) 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3503 - Notice of dishonor

47-3503.
Notice of dishonor
A. The obligation of an indorser stated in section 47-3415,  subsection A and the obligation of a drawer stated in section 47-3414,  subsection D may not be enforced unless:
1. The indorser or drawer is given notice of dishonor of the instrument complying with this section;  or
2. Notice of dishonor is excused under section 47-3504,  subsection 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 47-3504,  subsection C,  with respect to an instrument taken for collection by a collecting bank,  notice of dishonor must be given 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 by any other person within thirty 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 thirty days following the day on which dishonor occurs.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3504 - Excused presentment and notice of dishonor

47-3504.
Excused presentment and notice of dishonor
A. Presentment for payment or acceptance of an instrument is excused if:
1. The person entitled to present the instrument cannot with reasonable diligence make presentment;
2. The maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings;
3. By the terms of the instrument presentment is not necessary to enforce the obligation of indorsers or the drawer;
4. The drawer or indorser 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
5. 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 by the terms of the instrument notice of dishonor is not necessary to enforce the obligation of a party to pay the instrument or 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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3505 - Evidence of dishonor

47-3505.
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;  and
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,  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.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3601 - Discharge and effect of discharge

47-3601.
Discharge and effect of discharge
A. The obligation of a party to pay the instrument is discharged as stated in this chapter or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract.
B. Discharge of the obligation of a party is not effective against a person acquiring rights of a holder in due course of the instrument without notice of the discharge.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3602 - Payment

47-3602.
Payment
A. Subject to subsection B of this section,  an instrument is paid to the extent payment is made by or on behalf of a party obliged to pay the instrument and to a person entitled to enforce the instrument. To the extent of the payment,  the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under section 47-3306 by another person.
B. The obligation of a party to pay the instrument is not discharged under subsection A of this section if:
1. A claim to the instrument under section 47-3306 is enforceable against the party receiving payment and:
(a) Payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction;  or
(b) In the case of an instrument other than a cashier's check,  teller's check or certified check,  the party making payment accepted,  from the person having a claim to the instrument,  indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument;  or
2. The person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3603 - Tender of payment

47-3603.
Tender of payment
A. If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument,  the effect of tender is governed by principles of law applicable to tender of payment under a simple contract.
B. If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused,  there is discharge,  to the extent of the amount of the tender,  of the obligation of an indorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates.
C. If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument,  the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument,  the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-3604 - Discharge by cancellation or renunciation

47-3604.
Discharge by cancellation or renunciation
A. A person entitled to enforce an instrument,  with or without consideration,  may discharge the obligation of a party to pay the instrument:
1. By an intentional voluntary act,  such as surrender of the instrument to the party,  destruction,  mutilation or cancellation of the instrument,  cancellation or striking out of the party's signature or the addition of words to the instrument indicating discharge;  or
2. By agreeing not to sue or otherwise renouncing rights against the party by a signed writing.
B. Cancellation or striking out of an indorsement pursuant to subsection A does not affect the status and rights of a party derived from the indorsement.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-4102 - Applicability

47-4102.
Applicability
A. To the extent that items within this chapter are also within chapters 3 and 8 of this title,  they are subject to those chapters. If there is conflict,  this chapter governs chapter 3 of this title,  but chapter 8 of this title governs this chapter.
B. The liability of a bank for action or non-action with respect to an item handled by it for purposes of presentment,  payment or collection is governed by the law of the place where the bank is located. In the case of action or non-action by or at a branch or separate office of a bank,  its liability is governed by the law of the place where the branch or separate office is located.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-4103 - Variation by agreement; measure of damages; action constituting ordinary care

47-4103.
Variation by agreement;  measure of damages;  action constituting ordinary care
A. The effect of the provisions of this chapter may be varied by agreement,  but the parties to the agreement cannot disclaim a bank's responsibility for its lack of good faith or failure to exercise ordinary care or limit the measure of damages for the lack or failure. However,  the parties may determine by agreement the standards by which the bank's responsibility is to be measured if those standards are not manifestly unreasonable.
B. Federal reserve regulations and operating circulars,  clearing-house rules,  and the like have the effect of agreements under subsection A,  whether or not specifically assented to by all parties interested in items handled.
C. Action or non-action approved by this chapter or pursuant to federal reserve regulations or operating circulars is the exercise of ordinary care and,  in the absence of special instructions,  action or non-action consistent with clearing-house rules and the like or with a general banking usage not disapproved by this chapter,  is prima facie the exercise of ordinary care.
D. The specification or approval of certain procedures by this chapter is not disapproval of other procedures that may be reasonable under the circumstances.
E. The measure of damages for failure to exercise ordinary care in handling an item is the amount of the item reduced by an amount that could not have been realized by the exercise of ordinary care. If there is also bad faith it includes any other damages the party suffered as a proximate consequence.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-4105 - "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank"

47-4105.
" Bank" ;  " depositary bank" ;  " payor bank" ;  " intermediary bank" ;  " collecting bank" ;  " presenting bank"
In this chapter:
1. " Bank"  means a person engaged in the business of banking,  including a savings bank,  savings and loan association,  credit union or trust company.
2. " Depositary bank"  means the first bank to take an item even though it is also the payor bank unless the item is presented for immediate payment over the counter.
3. " Payor bank"  means a bank that is the drawee of a draft.
4. " Intermediary bank"  means a bank to which an item is transferred in course of collection except the depositary or payor bank.
5. " Collecting bank"  means a bank handling the item for collection except the payor bank.
6. " Presenting bank"  means any bank presenting an item except a payor bank.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-4106 - Payable through or payable at bank; collecting bank

47-4106.
Payable through or payable at bank;  collecting bank
A. If an item states that it is " payable through"  a bank identified in the item:
1. The item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item;  and
2. The item may be presented for payment only by or through the bank.
B. If an item states that it is " payable at"  a bank identified in the item,  the item is equivalent to a draft drawn on the bank.
C. If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank,  the bank is a collecting bank.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-4107 - Separate office of bank

47-4107.
Separate office of bank
A branch or separate office of a bank is a separate bank for the purpose of computing the time within which and determining the place at or to which action may be taken or notices or orders must be given under this chapter and chapter 3 of this title,  except that service on the bank as garnishee shall be made pursuant to section 12-1577. The receipt of any notice or order by,  or the knowledge of,  one branch or separate office of a bank is not actual or constructive notice to or knowledge of any other branch or separate office of the same bank and does not impair the right of such other branch or separate office to be a holder in due course of an item.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-4108 - Time of receipt of items

47-4108.
Time of receipt of items
A. For the purpose of allowing time to process items,  prove balances and make the necessary entries on its books to determine its position for the day,  a bank may fix an afternoon hour of two p.m. or later as a cutoff hour for the handling of money and items and the making of entries on its books.
B. An item or deposit of money received on any day after a cutoff hour so fixed or after the close of the banking day may be treated as being received at the opening of the next banking day.
2023 Arizona Revised Statutes › Title 47 - Uniform Commercial Code › § 47-4109 - Delays

47-4109.
Delays
A. Unless otherwise instructed,  a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank,  and with or without the approval of any person involved,  may waive,  modify or extend time limits imposed or permitted by this title for a period not exceeding two additional banking days without discharge of drawers or indorsers or liability to its transferor or a prior party.
B. Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this title or by instructions is excused if:
1. The delay is caused by interruption of communication or computer facilities,  suspension of payments by another bank,  war,  emergency conditions,  failure of equipment or other circumstances beyond the control of the bank;  and
2. The bank exercises such diligence as the circumstances require.