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Statutes of Law(s) 3203

Mans statutes of law number in the hundreds if not the thousands, Gods statutes
of law number ten (10), just as in law, man has written thousands of scriptures.
Confusion abounds when many words are added, allows subjective interoperation
with many other written words and truth becomes elusive. This writer finds the
Uniform Commercial Code and other statutory law along with Gods law as
providing a fresh view of brilliant minds who wrote the laws. Complexity allow(s)
for Satan to play in mans world nearly next to undetectable. Maybe this prediction
is wrong, but this writer has doubts, those who place me, me, me, now, now, now
before humanity as to this writers comprehension will feel the full weight of
Satans mercy. Within the 10 law(s) of God, it is noted God admitted he was a
jealous God therefore with emotion. In the beginning we as he knew not what evil
would perpetuate, as the old adage goes, one learns from ones action. Maybe
this is why God has refrained from destroying all evil on Earth. OR could it be
that if one alive believes thus is sufficient to warrant the actions taken by God and
Satan. One may not fear God but to not fear Satan will surely allow a choice to be
made.
Okiee, time to move on to excerpts of the Uniform Commercial Code.
3-302. HOLDER IN DUE COURSE.
(a) Subject to subsection (c) and Section 3-106(d), "holder in due
course" means the holder of an instrument if:
(1) the instrument when issued or negotiated to the holder does not
bear such apparent evidence of forgery or alteration or is not
otherwise so irregular or incomplete as to call into question its
authenticity; and
(2) the holder took the instrument (i) for value, (ii) in good faith, (iii)
without notice that the instrument is overdue or has been dishonored
or that there is an uncured default with respect to payment of another
instrument issued as part of the same series, (iv) without notice that
the instrument contains an unauthorized signature or has been
altered, (v) without notice of any claim to the instrument described in
Section 3-306, and (vi) without notice that any party has a defense or
claim in recoupment described in Section 3-305(a).
(b) Notice of discharge of a party, other than discharge in an
insolvency proceeding, is not notice of a defense under subsection (a),
but discharge is effective against a person who became a holder in
due course with notice of the discharge. Public filing or recording of
a document does not of itself constitute notice of a defense, claim in
recoupment, or claim to the instrument.
(c) Except to the extent a transferor or predecessor in interest has
rights as a holder in due course, a person does not acquire rights of a
holder in due course of an instrument taken (i) by legal process or by
purchase in an execution, bankruptcy, or creditor's sale or similar
proceeding, (ii) by purchase as part of a bulk transaction not in
ordinary course of business of the transferor, or (iii) as the successor
in interest to an estate or other organization.
(d) If, under Section 3-303(a)(1), the promise of performance that is
the consideration for an instrument has been partially performed, the
holder may assert rights as a holder in due course of the instrument
only to the fraction of the amount payable under the instrument equal
to the value of the partial performance divided by the value of the
promised performance.
(e) If (i) the person entitled to enforce an instrument has only a
security interest in the instrument and (ii) the person obliged to pay
the instrument has a defense, claim in recoupment, or claim to the
instrument that may be asserted against the person who granted the
security interest, the person entitled to enforce the instrument may
assert rights as a holder in due course only to an amount payable
under the instrument which, at the time of enforcement of the
instrument, does not exceed the amount of the unpaid obligation
secured.
Question arises upon the above statutory wording of subsection
(e), is it legal for a law firm to tack on legal fees that result in a
collection attempt of value greater than the tangible obligation
identified by the note governed by UCC Article 3 or the states
equivalent?
(f) To be effective, notice must be received at a time and in a manner
that gives a reasonable opportunity to act on it.
(g) This section is subject to any law limiting status as a holder in
due course in particular classes of transactions.
[____Emphasis Added]
Question arises upon the above statutory wording of subsection
(g), if under UCC Article 3 or the states equivalent the mortgage
note is to be a secured negotiable instrument, would not law
require the underlying security require compliance with a state
statutory law?

3-201. NEGOTIATION.
(a) "Negotiation" means a transfer of possession, whether voluntary
or involuntary, of an instrument by a person other than the issuer to a
person who thereby becomes its holder.
(b) Except for negotiation by a remitter, if an instrument is payable to
an identified person, negotiation requires transfer of possession of the
instrument and its indorsement by the holder. If an instrument is
payable to bearer, it may be negotiated by transfer of possession
alone. [Emphasis Added, if it is a bearer instrument, identity of
holder is unknown]
3-109. PAYABLE TO BEARER OR TO ORDER.
(a) A promise or order is payable to bearer if it:
(1) states that it is payable to bearer or to the order of bearer or
otherwise indicates that the person in possession of the promise or
order is entitled to payment;
(2) does not state a payee; or
(3) states that it is payable to or to the order of cash or otherwise
indicates that it is not payable to an identified person.
(b) A promise or order that is not payable to bearer is payable to
order if it is payable (i) to the order of an identified person or (ii) to
an identified person or order. A promise or order that is payable to
order is payable to the identified person.
[____Emphasis Added]{Note: In Blank term appears attempt
substitution for Bearer}(Does In Blank equal to Bearer, this
writers opinion, NO.)
(c) An instrument payable to bearer may become payable to an
identified person if it is specially indorsed pursuant to Section 3-
205(a). An instrument payable to an identified person may become
payable to bearer if it is indorsed in blank pursuant to Section 3-
205(b).
Back to:
3-203. TRANSFER OF INSTRUMENT;
RIGHTS ACQUIRED BY TRANSFER.
(a) An instrument is transferred when it is delivered by a person other
than its issuer for the purpose of giving to the person receiving
delivery the right to enforce the instrument.
(b) Transfer of an instrument, whether or not the transfer is a
negotiation, vests in the transferee any right of the transferor to
enforce the instrument, including any right as a holder in due course,
but the transferee cannot acquire rights of a holder in due course by
a transfer, directly or indirectly, from a holder in due course if the
transferee engaged in fraud or illegality affecting the instrument.
[____Emphasis Added]
(c) Unless otherwise agreed, if an instrument is transferred for value
and the transferee does not become a holder because of lack of
indorsement by the transferor, the transferee has a specifically
enforceable right to the unqualified indorsement of the transferor, but
negotiation of the instrument does not occur until the indorsement is
made.
(d) If a transferor purports to transfer less than the entire
instrument, negotiation of the instrument does not occur. The
transferee obtains no rights under this Article and has only the
rights of a partial assignee.
[____Emphasis Added]