Fleet National Bank v. Liberty

[¶ 12] The Court’s opinion is, in my view, contrary to the Legislature’s intent to have all provisions of Article 3-A of the Uniform Commercial Code apply to all types of negotiable instruments, including the precise class of promissory notes at issue in this case. I therefore respectfully dissent.

A. Article 3-A of the U.C.C. Applies to Negotiable Demand Notes

[¶ 13] Article 3-A of the U.C.C. was enacted in Maine in 1993, prior to the defaults asserted by Fleet Bank as the basis for this action. As its prefatory note makes clear, Article 3-A is intended to provide a uniform and national…