Terms Used In Montana Code > Title 30 > Chapter 3 > Part 2 - Transfer and Negotiation

• Acceptor: means a drawee that has accepted a draft. See Montana Code 30-3-102
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Drawer: means a person that signs a draft as a person ordering payment. See Montana Code 30-3-102
• Fiduciary: A trustee, executor, or administrator.
• Fraud: Intentional deception resulting in injury to another.
• Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Montana Code 30-3-102
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Maker: means a person that signs a note as promisor of payment. See Montana Code 30-3-102
• 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.
• Party: means party to an instrument. See Montana Code 30-3-102
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Remitter: means a person that purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser. See Montana Code 30-3-102
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Trustee: A person or institution holding and administering property in trust.
• Writing: includes printing. See Montana Code 1-1-203