§ 4:3.Draft or bill of exchange as negotiable instrument, 5 Ga. Jur.

UCC § 4:3

5 Ga. Jur. UCC § 4:3

Georgia Jurisprudence | September 2017 Update

Business and Commercial Law: Uniform Commercial Code
Chapter 4. Article 3—Negotiable Instruments
Lonnie E. Griffith, Jr., J.D.

I. In General
B. Particular Instruments as Negotiable Instruments

§ 4:3. Draft or bill of exchange as negotiable instrument

Chapter Summary | Correlation Table | Divisional References

West’s Key Number Digest

•0 West’s Key Number Digest, Bills and Notes 15, 18, 19

Forms
•0 Adams & Adams, Brown’s Georgia Pleading, Practice and Legal Forms Annotated §§ 11-3-104 Form 1 to 11-3-104
Form 5 (3d ed.) (Forms for drafts)

Under Article 3 Uniform Commercial Code—Negotiable Instruments, a “draft” is an instrument that is an order, 1 and, by the
general definition of a negotiable instrument, is a negotiable instrument if it is an unconditional order to pay a sum certain in
money, on demand or at a definite time.2 The term “draft” includes a check, although not all drafts are checks.3

Article 3 does not use the term “bill of exchange,” but the term is understood to be a synonym for “draft.” 4

Westlaw. © 2017 Thomson Reuters. No Claim to Orig. U.S. Govt. Works.

Footnotes
1
U.C.C. § 3-104(e).
2
§ 4:1.
3
O.C.G.A. § 11-3-104(f).
For a discussion of what is included in the term “check,” see § 4:4.
4
Official Comment 4 to revised U.C.C. § 3-104.

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§ 4:3.Draft or bill of exchange as negotiable instrument, 5 Ga. Jur. UCC § 4:3

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Works.

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