503

(a) In §§ 501-755 of this title:(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) Good faith. — Means honesty in fact and the observance of reasonable commercial standards of fair dealing.(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

ith 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 chapter or §§ 801-1004 of this title.(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 (§ 451(8) of this title).(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.(b) Other definitions applying to §§ 501-755 of this title and the sections in which they appear are:Acceptance Section 659Accommodated party Section 669Accommodation party Section 669Alteration Section

Other definitions applying to §§ 501-755 of this title and the sections in which they appear are:Acceptance Section 659Accommodated party Section 669Accommodation party Section 669Alteration Section 657Anomalous indorsement Section 555Blank indorsement Section 555Cashier’s check Section 504Certificate of deposit Section 504Certified check Section 659Check Section 504Consideration Section 603Draft Section 504Holder in due course Section 602Incomplete instrument Section 515Indorsement Section 554Indorser Section 554Instrument Section 504Issue Section 505Issuer Section 505Negotiable instrument Section 504Negotiation Section 551Note Section 504Payable at a definite time Section 508Payable on demand Section 508Payable to bearer Section 509Payable to order Section 509Payment Section 752Person entitled to enforce Section 601Presentment Section 701Reacquisition Section 557Special indorsement Section 555Teller’s check Section 504Transfer of instrument Section 553Traveler’s check Section 504Value Section 603(c) The following definitions in other chapters apply to this chapter:Bank Section 805Banking day Section 804Certificated security Section 1702(1)(a)Clearing house Section 804Collecting

ue Section 603(c) The following definitions in other chapters apply to this chapter:Bank Section 805Banking day Section 804Certificated security Section 1702(1)(a)Clearing house Section 804Collecting bank Section 805Deposit[o]ry bank Section 805Documentary draft Section 804Intermediary bank Section 805Item Section 804Payor bank Section 805Security Section 1702(1)(c)Suspension of payment Section 804Uncertificated security Section 1702(1)(b)(d) In addition, §§ 401-458 contains general definitions and principles of construction and interpretation applicable throughout this chapter. History —Aug. 17, 1995, No. 208, § 2-103; Aug. 31, 1996, No. 176, § 2; Sept. 19, 1996, No. 241, § 5.