–261–
-261Subchapter III—Promissory Notes and Checks § 4561. Promissory note defined A negotiable promissory note within the meaning of this chapter is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand, or at a fixed or determinable future time, a sum certain in money to order or to bearer, but the negotiability of a promissory note otherwise negotiable in form, secured by a mortgage or deed of trust upon real or personal property, shall not be affected or abridged by reason of a statement therein that it is so secured, nor by reason of the fact that said instrument is so secured, nor by any conditions contained in the mortgage or deed of trust securing the same. Where a note is drawn to the maker's own order it is not complete until indorsed by him. § 4562. Check defined A check is a bill of exchange drawn on a bank payable on demand. Except as herein otherwise provided, the provisions of this chapter applicable to a bill of exchange payable on demand apply to a check. § 4563. Time for presenting check A check must be presented for payment within a reasonable time after its issue or the drawer will be discharged from liability thereon to the extent of the loss caused by the delay. § 4564. Certification of check; effect Where a check is certified by the bank on which it is drawn, the certification is equivalent to an acceptance. § 4565. Holder procuring check to be certified; effect Where the holder of a check procures it to be accepted or certified, the drawer and all indorsers are discharged from liability thereon. § 4566. Check not an assignment; liability of bank A check of itself does not operate as an assignment of any part of the funds to the credit of the drawer with the bank, and the bank is not liable to the holder, unless and until it accepts or certifies the check. Subchapter IV—General Provisions § 4571. Short title This chapter may be cited as the Uniform Negotiable Instruments Act. § 4572. Definitions In this chapter, unless the context otherwise requires: "acceptance" means an acceptance completed by delivery or notification; "action" includes counterclaim and setoff; "bank" includes any person or association of persons carrying on the business of banking, whether incorporated or not; "bearer" means the person in possession of a bill or note which is payable to bearer; "bill" means bill of exchange, and "note" means negotiable promissory note; "delivery" means transfer of possession, actual or constructive, from one person to another; "holder" means the payee or indorsee of a bill or note, who is in possession of it, or the bearer thereof; "indorsement" means an indorsement completed by delivery; "instrument" means negotiable instrument; "issue" means the first delivery of the instrument, complete in form, to a person who takes it as a holder;
�
