Unauthorized Signature (Banking) Law and Legal Definition
Signature is the personal name written in one's hand. The intention of putting signature is to accept, authenticate, or execute a document. Sometimes a mark, seal, stamp or symbol constitutes signature. The drawer of a check can sue a drawee bank if it paid a check that was not properly payable. This includes unauthorized signature. Unauthorized signature includes forged signatures.
Pursuant to U.C.C. § 3-403, an unauthorized signature is ineffective except as the signature of the unauthorized signer in favor of a person who in good faith pays the instrument or takes it for value. However, an unauthorized signature can be ratified. When the signature of more than one person is required to constitute the authorized signature of an organization, the signature of the organization is unauthorized if one of the required signatures is lacking.
Legal Definition list
- Unauthorized Signature (Banking)
- Unauthorized Practice of Law
- Unauthorized Insurers Act
- Unauthorized Electronic Fund Transfer
- Unauthorized Discharge [Energy]
- Unauthorized Use of a Motor Vehicle
- Unavailability as a Witness
- Unavailable Witness
- Unavoidable Accident
- Unavoidable-Accident Doctrine
- Unborn Beneficiary
Related Legal Terms
- Abstraction [Banking]
- Accommodation Maker(Banking)
- Account [Banks & Banking]
- Acting in Concert [Banks & Banking]
- Affiliate [Banks & Banking]
- Alternative Mortgage Transaction [Banks & Banking]
- Application for a Deposit Facility [Banks & Banking]
- Appropriate Federal Banking Agency
- Appropriate Federal Financial Supervisory Agency [Banks & Banking]
- Appropriate Financial Regulator [Banks & Banking]
