(a) In this article:
(1) Acceptor means a drawee who has accepted a draft.
(2) Drawee means a person ordered in a draft to make payment.
(3) Drawer means a person who signs or is identified in a draft as a person ordering payment.
(4) Good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing.
(5) Maker means a person who signs or is identified in a note as a person undertaking to pay.
(6) Order 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) Ordinary care 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's prescribed procedures and the bank's procedures do not vary unreasonably from general banking usage not disapproved by this article or article 4 of this title.
(8) Party means a party to an instrument.
(9) Promise 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) Prove with respect to a fact means to meet the burden of establishing the fact (section 4-1-201 (b)(8)).
(11) Remitter 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 article and the sections in which they appear are:
AcceptanceSection 4-3-409
Accommodated partySection 4-3-419
Accommodation partySection 4-3-419
AlterationSection 4-3-407
Anomalous indorsementSection 4-3-205
Blank indorsementSection 4-3-205
Cashier's checkSection 4-3-104
Certificate of depositSection 4-3-104
Certified checkSection 4-3-409
CheckSection 4-3-104
ConsiderationSection 4-3-303
Demand draftSection 4-3-104
DraftSection 4-3-104
Holder in due courseSection 4-3-302
Incomplete instrumentSection 4-3-115
IndorsementSection 4-3-204
IndorserSection 4-3-204
InstrumentSection 4-3-104
IssueSection 4-3-105
IssuerSection 4-3-105
Negotiable instrumentSection 4-3-104
NegotiationSection 4-3-201
NoteSection 4-3-104
Payable at a definite timeSection 4-3-108
Payable on demandSection 4-3-108
Payable to bearerSection 4-3-109
Payable to orderSection 4-3-109
PaymentSection 4-3-602
Person entitled to enforceSection 4-3-301
PresentmentSection 4-3-501
ReacquisitionSection 4-3-207
Special indorsementSection 4-3-205
Teller's checkSection 4-3-104
Transfer of instrumentSection 4-3-203
Traveler's checkSection 4-3-104
ValueSection 4-3-303
(c) The following definitions in other articles apply to this article:
BankSection 4-4-105
Banking daySection 4-4-104
Clearing houseSection 4-4-104
Collecting bankSection 4-4-105
Depositary bankSection 4-4-105
Documentary draftSection 4-4-104
Intermediary bankSection 4-4-105
ItemSection 4-4-104
Payor bankSection 4-4-105
Suspends paymentsSection 4-4-104
(d) In addition, article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article.
Source: L. 94: Entire article R&RE, p. 840, � 1, effective January 1, 1995. L. 2001: (b) amended, p. 865, � 2, effective August 8. L. 2006: (a)(10) amended, p. 496, � 25, effective September 1.
Editor's note: This section is similar to former � 4-3-102 as it existed prior to 1994.
Cross references: For the legislative declaration contained in the 2001 act amending subsection (b), see section 1 of chapter 244, Session Laws of Colorado 2001.