7-3-311
Section 7-3-311 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...
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7-3-305
Section 7-3-305 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 other 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...
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27-42-8
an amount as follows: 1. The full amount of a covered claim for benefits under workers' compensation
insurance coverage. 2. An amount not exceeding ten thousand dollars ($10,000) per policy for
a covered claim for the return of unearned premium. 3. An amount not exceeding three hundred
thousand dollars ($300,000) or the policy limits, whichever is less, per claim for all covered
claims. For purposes of this limitation, all claims of any kind whatsoever arising out of,
or related to, bodily injury or death to any one person shall constitute a single claim,
regardless of the number of claims made or the number of claimants. b. In no event shall the
association be obligated to pay a claimant an amount in excess of the obligation of the insolvent
insurer under the policy or coverage from which the claim arises. c. Notwithstanding any other
provisions of this chapter, a covered claim shall not include any claim filed with the association
after the earlier of: 1. Twenty-five months...
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11-54B-9
Section 11-54B-9 Collection of special assessment; procedures; claim of lien; interest, penalties,
and fees. (a) A self-help business improvement district ordinance shall provide that the special
assessment levied on the owners of the real property located within the geographical area
of the district shall be collected by the district management corporation. The collection
procedures utilized by the district management corporation shall include the mailing of a
notice of the special assessment to the person shown as owner of the property on the records
of the tax assessor in the following manner: (1) After October 1 of each year, the district
management corporation may levy the special assessment for services to be provided during
the following calendar year. (2) The assessment shall be due on December 1 and delinquent
on January 1 following the October levy. (3) Upon delinquency, interest and penalties may
be assessed in the amounts provided in subsection (d). (b) Notwithstanding...
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7-9A-403
record include a statement to the effect that the rights of an assignee are subject to claims
or defenses that the account debtor could assert against the original obligee, and if the
record does not include such a statement: (1) the record has the same effect as if the record
included such a statement; and (2) the account debtor may assert against an assignee those
claims and defenses that would have been available if the record included such a statement.
(e) Rule for individual under other law. This section is subject to law other than this article
which establishes a different rule for an account debtor who is an individual and who incurred
the obligation primarily for personal, family, or household purposes. (f) Other law
not displaced. Except as otherwise provided in subsection (d), this section does not displace
law other than this article which gives effect to an agreement by an account debtor not to
assert a claim or defense against an assignee. (Act 2001-481, p. 647, §1.)...
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7-3-416
Section 7-3-416 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...
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7-3-302
Section 7-3-302 Holder in due course. (a) Subject to subsection (c) and Section 7-3-106(d),
"holder in due course" means the holder of an instrument if: (1) The instrument
when issued or negotiated to the holder does not bear such apparent evidence of forgery or
alteration or is not otherwise so irregular or incomplete as to call into question its authenticity;
and (2) The holder took the instrument (i) for value, (ii) in good faith, (iii) without notice
that the instrument is overdue or has been dishonored or that there is an uncured default
with respect to payment of another instrument issued as part of the same series, (iv) without
notice that the instrument contains an unauthorized signature or has been altered, (v) without
notice of any claim to the instrument described in Section 7-3-306, and (vi) without notice
that any party has a defense or claim in recoupment described in Section 7-3-305(a). (b) Notice
of discharge of a party, other than discharge in an insolvency proceeding,...
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7-3-308
Section 7-3-308 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 under Section 7-3-402(a). (b) If the validity
of signatures is admitted or proved and there is...
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35-10-94
Section 35-10-94 Notification by satisfaction agent to secured creditor. (a) If a secured creditor
has not submitted for recording a satisfaction of a security instrument within the time set
forth in Section 35-10-92 after full and complete payment of all indebtedness secured by the
security instrument, a satisfaction agent acting for and with authority from the mortgagors
may give the secured creditor a notification that the satisfaction agent intends to submit
for recording an affidavit of satisfaction of the security instrument. The notification must
include all of the following: (1) The identity and mailing address of the satisfaction agent.
(2) Identification of the security instrument for which a recorded satisfaction is sought,
including the names of the original parties to, and the recording data for, the security instrument.
(3) A statement that the satisfaction agent has determined all of the following: a. That the
real property described in the security instrument is...
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7-9A-621
Section 7-9A-621 Notification of proposal to accept collateral. (a) Persons to which proposal
to be sent. A secured party that desires to accept collateral in full or partial satisfaction
of the obligation it secures shall send its proposal to: (1) any person from which the secured
party has received, before the debtor consented to the acceptance, an authenticated notification
of a claim of an interest in the collateral; (2) any other secured party or lienholder that,
10 days before the debtor consented to the acceptance, held a security interest in or other
lien on the collateral perfected by the filing of a financing statement that: (A) identified
the collateral; (B) was indexed under the debtor's name as of that date; and (C) was filed
in the office or offices in which to file a financing statement against the debtor covering
the collateral as of that date; and (3) any other secured party that, 10 days before the debtor
consented to the acceptance, held a security interest in the...
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