Section 9 Other Undertakings or Instructions

• Library: Commercial Law 2007

As a general rule, to be a negotiable instrument under revised Article 3, the instrument must set out only the promise or order to pay and must not state any other undertaking or instruction by the drawer or maker. Section 400.3-104(a)(3), RSMo Supp. 2006. In an effort to provide some protection to creditors, though, the drafters of revised UCC Article 3 carried over three exceptions based on former § 400.3-112(1), RSMo 1986, allowing a negotiable instrument to contain, in addition to the payment...