§ 30-3-125

30-3-125. 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 (30-3-115) that is completed is binding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionally issued or is issued for a special purpose is binding on the maker or drawer, but failure of the condition or special purpose to be fulfilled is a defense. (3) 'Issuer' applies to issued and unissued instruments and means any person that signs an instrument as maker or drawer. History: En. Sec. 91, Ch. 410, L. 1991.