- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 3. Negotiable Instruments
- Section 105. Issue of Instrument.
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. Negotiable Instrument.
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. Unconditional Promise or Order.
AS 45.03.105. Issue of Instrument.
- (a) "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.
- (b) 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 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.
- (c) "Issuer" applies to issued and unissued instruments and means a maker or drawer of an instrument.
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