United States — Louisiana Statutes

RS 10:3-202

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Negotiation remains effective even if obtained through certain defects or wrongdoing, but rescission or other remedies are limited against later protected parties.

• Negotiation
• Remedies
• Rescission

RS 10:3-203

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This section explains when an instrument is transferred and what rights the transferee gets, including limits if fraud or illegality is involved.

• Enforcement rights
• Fraud or illegality
• Indorsement
• Transfer of instruments

RS 10:3-204

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This section defines “indorsement” and “indorser,” and says a holder may indorse an instrument under certain name conditions.

• Endorsement
• Negotiable instruments

RS 10:3-205

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This section defines special, blank, and anomalous indorsements and states how an instrument may be negotiated in each case.

• Endorsement
• Negotiable instruments
• Negotiation

RS 10:3-206

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This section limits the effect of restrictive indorsements on negotiable instruments and describes when banks or purchasers may disregard them or may be liable for conversion.

• Banking
• Endorsements
• Negotiable instruments

RS 10:3-207

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An instrument is reacquired when it is transferred back to a former holder. That former holder may cancel later indorsements, and if the cancellation makes the instrument payable to the reacquirer or bearer, the reacquirer may negotiate it.

• Endorsement
• Negotiable instruments
• Reacquisition

RS 10:3-301

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This section defines who is a person entitled to enforce an instrument.

• Instrument enforcement

RS 10:3-302

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This section defines when a holder can qualify as a holder in due course and limits that status in several situations.

• Holder in due course
• Negotiable instruments

RS 10:3-303

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This section defines when an instrument is transferred for value and what counts as consideration, and it gives the drawer, maker, or issuer a defense in the stated situations.

• Contract defenses
• Value and consideration

RS 10:3-304

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This section says when an instrument is considered overdue.

• Default
• Negotiable instruments
• Overdue status
• Payment timing

RS 10:3-305

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This section limits when a party can enforce payment on an instrument and when the obligor can raise defenses, recoupment, or refuse payment.

• Defenses
• Negotiable instruments
• Recoupment

RS 10:3-306

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A person taking an instrument may be subject to property or possessory claims, unless the person has rights of a holder in due course.

• Negotiable instruments
• Property claims

RS 10:3-307

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This section defines “fiduciary” and “represented person,” and sets rules for when taking an instrument counts as notice of a fiduciary breach.

• Fiduciary duty
• Instrument transfer
• Notice

RS 10:3-308

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This section sets rules for proving signatures on an instrument and for when a plaintiff can get payment on it.

• Negotiable instruments
• Payment entitlement
• Signature validity

RS 10:3-309

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A person who lost possession of an instrument may enforce it if the listed conditions are met.

• Enforcement of lost instruments

RS 10:3-310

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This section says what happens to an obligation when certain checks or notes are taken for payment, including discharge, suspension, and when the obligee may enforce the instrument or the obligation.

• Check payment
• Negotiable instruments
• Obligation discharge

RS 10:3-311

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This section says a claim can be settled and discharged if a person tenders an instrument in full satisfaction, the claim is disputed or unliquidated, and the claimant cashes it, but there are notice and repayment exceptions.

• Claims settlement
• Debt dispute resolution

RS 10:3-312

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A claimant can ask the obligated bank to pay a lost, destroyed, or stolen check if the claimant meets the stated conditions. If the claim later becomes enforceable, the bank must pay unless the check was already paid to someone entitled to enforce it, and the claimant may have to refund or pay if a holder in due course

• Checks
• Loss and theft
• Payment claims

RS 10:3-401

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A person is not liable on an instrument unless the person signed it, or an agent or representative signed it and the signature binds that person under R.S. 10:3-402.

RS 10:3-402

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Rules on when a representative’s signature binds the represented person and when the representative is liable on an instrument.

• Agency
• Liability on instruments
• Signatures