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Texas Business & Commerce Code

§ 3.103 — DEFINITIONS

BC § 3.103Title 1. UNIFORM COMMERCIAL CODE · Ch. 3. NEGOTIABLE INSTRUMENTS · Art. A. GENERAL PROVISIONS AND DEFINITIONS

Statute text

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(a)In this chapter:
(1)"Acceptor" means a drawee who has accepted a draft.
(2)Reserved.
(3)"Consumer transaction" means a transaction in which an individual incurs an obligation primarily for personal, family, or household purposes.
(4)"Drawee" means a person ordered in a draft to make payment.
(5)"Drawer" means a person who signs or is identified in a draft as a person ordering payment.
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Legislative history

Acts 2005, 79th Leg., Ch. 95 (S.B. 1563), Sec. 1, eff. September 1, 2005. Acts 2005, 79th Leg., Ch. 95 (S.B. 1563), Sec. 2, eff. September 1, 2005. Acts 2007, 80th Leg., R.S., Ch. 427 (S.B. 1541), Sec. 1, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 427 (S.B. 1541), Sec. 2, eff. September 1, 2007.

Source: Texas Business & Commerce Code § 3.103 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.