Delaware Code Title 6 Sec. 3-103 – Definitions
(a) In this Article:
(1) “Acceptor” means a drawee who has accepted a draft.
(2) “Drawee” means a person ordered in a draft to make payment.
(3) “Drawer” means a person who signs or is identified in a draft as a person ordering payment.
(4) [Deleted.]
(5) “Maker” means a person who signs or is identified in a note as a person undertaking to pay.
(6) “Order” means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay.
(7) “Ordinary care” in the case of a person engaged in business means observance of reasonable commercial standards, prevailing in the area in which the person is located, with respect to the business in which the person is engaged. In the case of a bank that takes an instrument for processing for collection or payment by automated means, reasonable commercial standards do not require the bank to examine the instrument if the failure to examine does not violate the bank’s prescribed procedures and the bank’s procedures do not vary unreasonably from general banking usage not disapproved by this Article or Article 4.
(8) “Party” means a party to an instrument.
(9) “Promise” means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgment of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation.
(10) “Prove” with respect to a fact means to meet the burden of establishing the fact (Section 1-201(b)(8)).
(11) “Remitter” means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser.
Terms Used In Delaware Code Title 6 Sec. 3-103
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
(b) Other definitions applying to this Article and the sections in which they appear are:
“Acceptance”. ________________ Section 3-409.
“Accommodated party”. ________________ Section 3-419.
“Accommodation party”. ________________ Section 3-419.
“Alteration”. ________________ Section 3-407.
“Anomalous indorsement”. ________________ Section 3-205.
“Blank indorsement”. ________________ Section 3-205.
“Cashier’s check”. ________________ Section 3-104.
“Certificate of deposit”. ________________ Section 3-104.
“Certified check”. ________________ Section 3-409.
“Check”. ________________ Section 3-104.
“Consideration”. ________________ Section 3-303.
“Draft”. ________________ Section 3-104.
“Holder in due course”. ________________ Section 3-302.
“Incomplete instrument”. ________________ Section 3-115.
“Indorsement”. ________________ Section 3-204.
“Indorser”. ________________ Section 3-204.
“Instrument”. ________________ Section 3-104.
“Issue”. ________________ Section 3-105.
“Issuer”. ________________ Section 3-105.
“Negotiable instrument”. ________________ Section 3-104.
“Negotiation”. ________________ Section 3-201.
“Note”. ________________ Section 3-104.
“Payable at a definite time”. ________________ Section 3-108.
“Payable on demand”. ________________ Section 3-108.
“Payable to bearer”. ________________ Section 3-109.
“Payable to order”. ________________ Section 3-109.
“Payment”. ________________ Section 3-602.
“Person entitled to enforce”. ________________ Section 3-301.
“Presentment”. ________________ Section 3-501.
“Reacquisition”. ________________ Section 3-207.
“Special indorsement”. ________________ Section 3-205.
“Teller’s check”. ________________ Section 3-104.
“Transfer of instrument”. ________________ Section 3-203.
“Traveler’s check”. ________________ Section 3-104.
“Value”. ________________ Section 3-303.
(c) The following definitions in other Articles apply to this Article:
“Bank”. ________________ Section 4-105.
“Banking day”. ________________ Section 4-104.
“Clearing house”. ________________ Section 4-104.
“Collecting bank”. ________________ Section 4-105.
“Depositary bank”. ________________ Section 4-105.
“Documentary draft”. ________________ Section 4-104.
“Intermediary bank”. ________________ Section 4-105.
“Item”. ________________ Section 4-104.
“Payor bank”. ________________ Section 4-105.
“Suspends payments”. ________________ Section 4-104.
(d) In addition, Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
5A Del. C. 1953, §§ ?3-102; 55 Del. Laws, c. 349; 70 Del. Laws, c. 86, § ?3; 74 Del. Laws, c. 332, §§ ?29, 30;