Tribal Law Gateway  | Turtle Mountain Band of Chippewa Indians of North Dakota | Collection | Turtle Mountain Band of Chippewa Indians Tribal Code. | Title 24 Commercial Code | Chapter 24.17 Liability of Parties | 24.17.070 Alteration

Turtle Mountain Band of Chippewa Indians of North Dakota - Tribal Law

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Turtle Mountain Band of Chippewa Indians Tribal Code.

24.17.070 Alteration

(a) "Alteration" means

(1) an unauthorized change in an instrument that purports to modify in any respect the obligation of a party, or

(2) an unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.

(b) Except as provided in Subsection (c), an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges a party, and the instrument may be enforced according to its original terms.

(c) A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value, in good faith and without notice of the alteration, may enforce rights with respect to the instrument

(1) according to its original terms, or

(2) in the case of an incomplete instrument altered by unauthorized completion, according to its terms as completed.

Original url: /us/nsn/tmchippewa/council/code/24.17.070

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