                                 CODE OF VIRGINIA

DEFINITIONS (§ 8.3A-103)

a. In this title:

   1. &#8220;Acceptor&#8221; means a drawee who has accepted a draft.

   2. &#8220;Drawee&#8221; means a person ordered in a draft to make payment.

   3. &#8220;Drawer&#8221; means a person who signs or is identified in a draft
   as a person ordering payment.

   4. &#8220;Good faith&#8221; means honesty in fact and the observance of
   reasonable commercial standards of fair dealing.

   5. &#8220;Maker&#8221; means a person who signs or is identified in a note as
   a person undertaking to pay.

   6. &#8220;Order&#8221; means a written instruction to pay money signed by the
   person giving the instruction. The instruction may be addressed to any person,
   including the person giving the instruction, or to one or more persons jointly
   or in the alternative but not in succession. An authorization to pay is not an
   order unless the person authorized to pay is also instructed to pay.

   7. &#8220;Ordinary care&#8221; in the case of a person engaged in business
   means observance of reasonable commercial standards, prevailing in the area in
   which the person is located, with respect to the business in which the person
   is engaged. In the case of a bank that takes an instrument for processing for
   collection or payment by automated means, reasonable commercial standards do
   not require the bank to examine the instrument if the failure to examine does
   not violate the bank&#8217;s prescribed procedures and the bank&#8217;s
   procedures do not vary unreasonably from general banking usage not disapproved
   by this title or Title 8.4.

   8. &#8220;Party&#8221; means a party to an instrument.

   9. &#8220;Promise&#8221; means a written undertaking to pay money signed by
   the person undertaking to pay. An acknowledgment of an obligation by the
   obligor is not a promise unless the obligor also undertakes to pay the
   obligation.

   10. &#8220;Prove&#8221; with respect to a fact means to meet the burden of
   establishing the fact (&#xA7; 8.1A-201(b)(8)).

   11. &#8220;Remitter&#8221; means a person who purchases an instrument from its
   issuer if the instrument is payable to an identified person other than the
   purchaser.

b. Other definitions applying to this title and the sections in which they
appear are:
			&#8220;Acceptance,&#8221;&#xA7; 8.3A-409.
			&#8220;Accommodated party,&#8221;&#xA7; 8.3A-419.
			&#8220;Accommodation party,&#8221;&#xA7; 8.3A-419.
			&#8220;Alteration,&#8221;&#xA7; 8.3A-407.
			&#8220;Anomalous endorsement,&#8221;&#xA7; 8.3A-205.
			&#8220;Blank endorsement,&#8221;&#xA7; 8.3A-205.
			&#8220;Cashier&#8217;s check,&#8221;&#xA7; 8.3A-104.
			&#8220;Certificate of deposit,&#8221;&#xA7; 8.3A-104.
			&#8220;Certified check,&#8221;&#xA7; 8.3A-409.
			&#8220;Check,&#8221;&#xA7; 8.3A-104.
			&#8220;Consideration,&#8221;&#xA7; 8.3A-303.
			&#8220;Draft,&#8221;&#xA7; 8.3A-104.
			&#8220;Holder in due course,&#8221;&#xA7; 8.3A-302.
			&#8220;Incomplete instrument,&#8221;&#xA7; 8.3A-115.
			&#8220;Endorsement,&#8221;&#xA7; 8.3A-204.
			&#8220;Endorser,&#8221;&#xA7; 8.3A-204.
			&#8220;Instrument,&#8221;&#xA7; 8.3A-104.
			&#8220;Issue,&#8221;&#xA7; 8.3A-105.
			&#8220;Issuer,&#8221;&#xA7; 8.3A-105.
			&#8220;Negotiable instrument,&#8221;&#xA7; 8.3A-104.
			&#8220;Negotiation,&#8221;&#xA7; 8.3A-201.
			&#8220;Note,&#8221;&#xA7; 8.3A-104.
			&#8220;Payable at a definite time,&#8221;&#xA7; 8.3A-108.
			&#8220;Payable on demand,&#8221;&#xA7; 8.3A-108.
			&#8220;Payable to bearer,&#8221;&#xA7; 8.3A-109.
			&#8220;Payable to order,&#8221;&#xA7; 8.3A-109.
			&#8220;Payment,&#8221;&#xA7; 8.3A-602.
			&#8220;Person entitled to enforce,&#8221;&#xA7; 8.3A-301.
			&#8220;Presentment,&#8221;&#xA7; 8.3A-501.
			&#8220;Reacquisition,&#8221;&#xA7; 8.3A-207.
			&#8220;Special endorsement,&#8221;&#xA7; 8.3A-205.
			&#8220;Teller&#8217;s check,&#8221;&#xA7; 8.3A-104.
			&#8220;Transfer of instrument,&#8221;&#xA7; 8.3A-203.
			&#8220;Traveler&#8217;s check,&#8221;&#xA7; 8.3A-104.
			&#8220;Value,&#8221;&#xA7; 8.3A-303.

c. The following definitions in other titles apply to this title:
			&#8220;Bank,&#8221;&#xA7; 8.4-105.
			&#8220;Banking day,&#8221;&#xA7; 8.4-104.
			&#8220;Clearing house,&#8221;&#xA7; 8.4-104.
			&#8220;Collecting bank,&#8221;&#xA7; 8.4-105.
			&#8220;Depositary bank,&#8221;&#xA7; 8.4-105.
			&#8220;Documentary draft,&#8221;&#xA7; 8.4-104.
			&#8220;Intermediary bank,&#8221;&#xA7; 8.4-105.
			&#8220;Item,&#8221;&#xA7; 8.4-104.
			&#8220;Payor bank,&#8221;&#xA7; 8.4-105.
			&#8220;Suspends payments,&#8221;&#xA7; 8.4-104.

d. In addition, Title 8.1A contains general definitions and principles of
construction and interpretation applicable throughout this title.

HISTORY: Code 1950, § 6-544; 1964, c. 219, §§ 8.3-102, 8.3-118; 1992, c. 693;
2003, c. 353.