554.3105 Issue of instrument. 1. 'Issue' means the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person. 2. An unissued instrument, or an unissued incomplete instrument that is completed, is binding on the maker or drawer, but nonissuance is a defense. An instrument that isconditionally issued or is issued for a special purpose is binding on the maker or drawer, butfailure of the condition or special purpose to be fulfilled is a defense. 3. 'Issuer' applies to issued and unissued instruments and means a maker or drawer of an instrument. 94 Acts, ch 1167, §14, 121, 122Referred to in §554.3103 Sat Dec 23 01:55:01 2023 Iowa Code 2024, Section 554.3105 (24, 0)
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