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IN THE CIRCUIT COURT OF THE TWENTIETH JUDICIAL CIRCUIT

IN AND FOR COLLIER COUNTY, FLORIDA

BANKUNITED,
as [purported] successor in interest to [lawfully seized] BANKUNITED, FSB.,

purported plaintiff(s),

vs. DISPOSED CASE NO.: 09-6016-CA

JENNIFER FRANKLIN-PRESCOTT, et al.,


purported defendants.
___________________________________________________________________/

NOTICE OF FRAUD & LOSS AND/OR DESTRUCTION OF PURPORTED note

MOTION TO QUIET TITLE IN THE RECORD ABSENCE OF ANY note / instrument


AND TO CANCEL FRAUDULENT AND UN-NOTICED & UNAUTHORIZED hearing
IN DISPOSED AND FRIVOLOUS ACTION BY SEIZED & BANKRUPT BANK
[State Street Bank v. Lord, 851 So.2d 790 (Fla. 4 Dist. 2003)]

COMPLAINT OF LOST / DESTROYED note / instrument

1. “Plaintiff” lawfully seized and bankrupt bank asserted a lost and/or destroyed

note/instrument. See Complaint by fired Counsel Camner Lipsitz (Alfred Camner, founder

of bankrupt and seized BankUnited, FSB).

ABSOLUTE IMPOSSIBILITY OF enforcement of lost/destroyed note/instrument

2. A person not in possession of an instrument is not entitled to enforce the instrument if the

loss and/or destruction was the result of a lawful seizure, § 673.3091, Fla. Stat.,

Enforcement of lost, destroyed, or stolen instrument. Here “plaintiff” bankrupt bank was

lawfully seized and knew that it could not possibly enforce the admittedly lost / destroyed

note and/or instrument.

NO NOTICE OF ANY transfer OF LOST / DESTROYED note and/or instrument


3. Here, the “plaintiff” bankrupt and lawfully seized bank did not give any notice of any

transfer of the lost and/or destroyed note / instrument. Here, the F.D.I.C. had lawfully

seized bankrupt BankUnited, FSB.

RECORD LACK OF ANY EVIDENCE OF ANY original note and/or instrument

4. Here pursuant to plaintiff(s)’ own complaint and assertions of record, the purported note

and/or instrument was lost/destroyed in an unknown manner and at an unknown time.

Therefore, “plaintiff(s)” could not have possibly had any cause of action, interest, standing,

and right to sue Jennifer Franklin Prescott. Accordingly, this Case had been disposed.

WHAT IS GOING ON? - DISPOSITION OF FRIVOLOUS action IN AUGUST 2010

5. “Disposition Judge Hugh D. Hayes” had disposed the facially non-meritorious action on

08/12/2010. See docket.

SEIZURE OF BANKRUPT BANKUNITED, FSB & LOSS/DESTRUCTION OF note

6. Here, purported “plaintiff(s)” and BankUnited, FSB, knew that said defunct bank had been

lawfully seized (F.D.I.C.) and could not have possibly (re) established any admittedly lost

and/or destroyed note under Florida law. See State Street Bank v. Lord, 851 So.2d 790

(Fla. 4 Dist. 2003); and Federal and F.D.I.C. BankUnited seizure reports on file.

LOSS OF PURPORTED note WAS RESULT OF LAWFUL SEIZURE

7. Here, the “plaintiff(s)” had conceded “unknown” loss and/or destruction of the purported

“note”, which “was the result of a lawful seizure” (F.D.I.C.), Section 673.3091, Florida

2
Statutes. See also § 90.953, Fla. Stat. Therefore, “plaintiff” knew that it could not have

possibly met the requirements to (re) establish a lost/destroyed/stolen note under the law.

BANKRUPT BANKUNITED WAS NOT ENTITLED TO ANY action & attorney’s fees

8. Here, the “plaintiff(s)” lawfully seized and bankrupt bank failed to, e.g.:

a. present the purported original promissory note; and/or


b. give any satisfactory explanation for its admitted failure to do so.
Here, no exceptions applied or could have possibly applied, because the unauthorized

plaintiff could not satisfy the requirements of § 673.3091(1)(b). Therefore, BankUnited had

No right to sue; and


No right to collect any attorney’s fees.
SEIZED BANK DID NOT know time & manner of LOSS/DESTRUCTION

9. Because here admittedly, lawfully seized BankUnited did not even know WHO had

lost/destroyed the purported note WHEN and HOW, no satisfactory explanation was ever

given or could have possibly been given. Therefore here, said “lawfully seized” bankrupt

Bank was not entitled to any action, attorney’s fees, and “hearing”.

BANKUNITED BANKRUPTCY & LAWFUL SEIZURE PROHIBIT ANY hearing

10. Here, “plaintiff” had no cause of action. BankUnited Financial had filed for protection under

Chapter 11 of the Federal bankruptcy code, listing total assets of $37.7 million and total

debts of $559.7 million. Here, shareholders and other stakeholders were wiped out.

SEIZED BANKUNITED HAD NO RIGHT TO SUE PRESCOTT

11. Here in the absence of any note and after said bank seizure, BankUnited had no right to sue

Jennifer Franklin Prescott and demand a hearing as to fraudulent attorney’s fees.

BANKUNITED COULD NOT (RE)ESTABLISH ANY LOST/DESTOYED NOTE

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12. Here concededly, BankUnited could not (re)establish any lost/destroyed note. See

Complaint and case law on file. Here expressly, BankUnited had stated that it could not

possibly (re) establish any note, because it knew that it could not determine:

a. WHEN the purported note was lost and/or destroyed ?

b. WHO had lost/destroyed the purported note ?

Furthermore, if the holder of an instrument destroys it, he thereby forgives and discharges

any debt and may not maintain an action. See District of Columbia v. Cornell, 130 US 655,

32 L ed 1041, 9 S Ct 694.

FRIVOLOUS ACTION IN THE ADMITTED ABSENCE OF ANY NOTE

13. Therefore here under Florida law, “plaintiff(s)’” action was facially frivolous. Because

seized BankUnited knew that it could not possibly (re) establish the lost/destroyed note/

instrument, the bankrupt bank:

a. Had no right to sue J. Franklin-Prescott; no standing; and no cause of action;


b. Could not possibly satisfy the condition precedent to sue Prescott;
c. Had no right to said hearing and attorney’s fees. See case law on file.
BANKUNITED FAILED TO PREVAIL IN DISPOSED & FRIVOLOUS action

14. In the admitted absence of any note, BankUnited was not entitled to any attorney’s fees and

hearing in this disposed fraudulent action.

BANKUNITED WAS NOT ENTITLED TO ANY ATTORNEY’S FEES

15. Here, the electronic docket showed, e.g.:

a. Fraudulently claimed “attorney’s fees”;

b. Serena Kay Paskewicz’, Esq., lack of any authority to represent seized BankUnited, FSB.

NO “EVENT”/HEARING PURSUANT TO CLERK’S E-DOCKET

16. Here on 12/02/2010, Prescott had reviewed the Clerk’s electronic docket while abroad and

on her way to Australasia. Here, the Clerk’s electronic docket did not show any “event”.

4
See attached docket print out.

“Erin M. Rose, Esq.” IS NOT ANY “co-counsel” – PASKEWICZ, ESQ. UNAUTHORIZED

17. Here after the lawful seizure of bankrupt BankUnited, FSB, “Erin M. Rose, Esq.” is not any

“co-counsel”. Absent any possibility to establish the lost note, S. Kay Paskewicz, Esq. and

Camner Lipsitz (BankUnited founder Alfred Camner) were fired and no longer authorized to

appear on behalf of BankUnited and not entitled to any attorney’s fees.

NO record address

18. Here, the electronic docket does not show any “address”, and Jennifer Franklin-Prescott was

not noticed and/or served any

a. “notice of hearing”;
b. “affidavit”; and “notice of filing”. No address to send anything to existed. See attachment.

ANY service and hearing WAS LEGALLY IMPOSSIBLE

19. In the record absence of any address and possibility to (re) establish any note, Prescott

could not have possibly been “served” and obligated to pay any “attorney’s fees”.

PRESCOTT’S ABSENCE & UNAVAILABILITY

20. J. Franklin Prescott is abroad, on her way to Australasia, and could not possibly appear.

Prescott had her recent pleadings delivered to the Clerk, Disposition Judge, and parties. See

attached Certificates and Records.

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WHEREFORE, Jennifer Franklin-Prescott respectfully demands

1. An Order quieting title in the record absence of any original note/instrument & transfer and

after lawful seizure of said bankrupt bank;

2. An Order taking judicial notice of said

a. Unknown loss and/or destruction of purported note / instrument;


b. Unknown transfer;
c. 08/12/2010 disposition by Disposition Judge Hugh D. Hayes;
d. Section 673.3091, Fla. Stat.;
e. Section 90.953, Fla. Stat.;
f. Said case law and State Street Bank v. Lord, 851 So.2d 790 (Fla. 4 Dist. 2003).
3. An Order canceling said unauthorized hearing in this frivolous, fraudulent, and hence

disposed action;

4. An Order restraining “plaintiff(s)” from extorting “attorney’s fees” in the absence of any

cause of action and interest and because of the absolute impossibility to establish any note;

5. An Order declaring Jennifer Franklin-Prescott’s record title to the subject property free and

clear, because of said conceded and absolute impossibility to establish any instrument/note.

/s/Jennifer Franklin-Prescott, foreclosure fraud victim

ATTACHMENTS (12/02/2010)

• Docket as of 12/02/2010
• “Events” pursuant to Docket
• § 673.3091, Fla. Stat., Enforcement of lost, destroyed, or stolen instrument.
• State Street Bank v. Lord, 851 So.2d 790 (Fla. 4 Dist. 2003)
• Certificates of Deliveries to Clerk, Disposition Judge, Albertelli Law

By Certified Facsimile and Delivery to Clerk of Court, Dwight E. Brock & Disposition Judge.
By Rush Messenger Service West, Inc., 12/03/2010.

6
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Company Clerk of Court, Naples, FL, U Company Purported "defendant", 09-60

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Court, Dwight E. Brock, and
Disposition Judge Hugh D. Hayes;
Case # 112009CA0060160001XX;
Style: BANKUNITED vs FRANKLIN-PRESCOTT,

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To: Jennifer Franklin-Prescott <bhtjw@aol.com>
Subject: MyFax Notification - Fax Sent Successfully
Date: Fri, Dec 3, 2010 9:32 am

Dear Jennifer Franklin-Prescott:

Your fax to Dwight E. Brock at +1 (239) 252-8020 has been successfully sent:
Your fax was delivered at 12/3/2010 3:31:26 PM, and contained 7 page(s).

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CERTIFIED INTERNATIONAL DELIVERY
Hon. Hugh D. Hayes
“Disposition Judge”; Disposed Case # 09-6016-CA
Style: [SEIZED] BANKUNITED vs. JENNIFER FRANKLIN-PRESCOTT
T: 239.252.8116
Fax: 239.774.9654 [www.MYFAX.COM]

E-Mail: hhayes@ca.cjis20.org

ID Number: 160093
Collier County Government Complex
3301 Tamiami Trail East
Naples, Florida 34112-4961
United States
Phone: 239.252.8116
Fax: 239.774.9654
E-Mail: hhayes@ca.cjis20.org

Certificate of International Delivery: www.scribd.com

RE: MOTIONS, NOTICE, Disposed Case # 09-6016-CA

BY RUSH MESSENGER SERVICE

F: 001-239-498-6727; D., AMEXPRESS


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Name HUGH D. HAYES, HON. JU Name Jennifer Franklin-Prescott

Company COLLIER COUNTY CIRCUIT Company Purported "defendant", 09-6

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COLLIER COUNTY, FL, U.S.A.
CIRCUIT COURT
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12/3/2010 MyFax Notification - Fax Sent Successf…

From: MyFax Free <myfaxfree@myfax.com>


To: Jennifer Franklin-Prescott <bhtjw@aol.com>
Subject: MyFax Notification - Fax Sent Successfully
Date: Fri, Dec 3, 2010 10:36 am

Dear Jennifer Franklin-Prescott:

Your fax to HUGH D. HAYES, HON. JUDGE at +1 (239) 774-9654 has been successfully sent:
Your fax was delivered at 12/3/2010 4:36:02 PM, and contained 10 page(s).

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12/3/2010 RE: TO Dwight E. Brock from J. Frankli…

Von: Simone Leite <simone@albertellilaw.com>


An: 'jrbu@aol.com' <jrbu@aol.com>; Andrew Fivecoat <afivecoat@albertellilaw.com>; Nicole Reed
<nreed@albertellilaw.com>; TerserBaron <tbaron@albertellilaw.com>; Jonathan Sawyer
<jsawyer@albertellilaw.com>; Jim Albertelli <jalbertelli@albertellilaw.com>; erose@albertellilaw.com
<erose@albertellilaw.com>
Thema: RE: TO Dwight E. Brock from J. Franklin-Prescott, Disposed Case # 09-6016-CA
Datum: Fr., 3. Dez. 2010, 13:32

Andy,

Did you see this…?

Simone

From: jrbu@aol.com [mailto:jrbu@aol.com]


Sent: Friday, December 03, 2010 1:28 PM
To: Andrew Fivecoat; Simone Leite; Nicole Reed; Terser Baron; Jonathan Sawyer; Jim Albertelli;
erose@albertellilaw.com
Subject: TO Dwight E. Brock from J. Franklin-Prescott, Disposed Case # 09-6016-CA

-----Ursprüngliche Mitteilung-----
Von: bhtjw@aol.com
An: Dwight.Brock@collierclerk.com; darlene.muszynski@collierclerk.com; Collierclerk@collierclerk.com;
Jill.Lennon@collierclerk.com; hhayes@ca.cjis20.org; BHTJW@aol.com
Verschickt: Fr., 3. Dez. 2010, 12:56
Thema: TO Dwight E. Brock from J. Franklin-Prescott, Disposed Case # 09-6016-CA

-----Original Message-----
From: bhtjw@aol.com
To: BHTJW@aol.com
Sent: Fri, Dec 3, 2010 11:50 am
Subject: TO Dwight E. Brock from J. Franklin-Prescott, Disposed Case # 09-6016-CA

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Thema: MyFax Notification - Fax Sent Successfully
Datum: Fr., 3. Dez. 2010, 14:44

Dear Jennifer Franklin-Prescott:

Your fax to ALBERTELLI LAW FIRM at +1 (904) 356-4754 has been successfully sent:
Your fax was delivered at 12/3/2010 7:43:31 PM, and contained 12 page(s).

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PAID DELIVERY ORDER, 12/03/2010

TO:
RUSH MESSENGER SERVICE WEST, INC.

F: 001-239-498-6727; D.
[AMEXPRESS]

FROM:
Jennifer Franklin Prescott
bhtjw@aol.com

DELIVERY TO COLLIER COUNTY CLERK OF COURT, CIVIL, 3rd Floor


Naples Courthouse, Annex

CLERK of Collier County Court, 3rd FLOOR, CIVIL


Collier County Government Complex
3301 Tamiami Trail East
NAPLES COURTHOUSE
Naples, Florida 34112
United States

After delivery, please e-mail first page of document stamped by Clerk to:

bhtjw@aol.com

MOTION TO CANCEL UNAUTHORIZED hearing IN DISPOSED ACTION; and

MOTION FOR JUDICIAL NOTICE OF § 673.3091, CH. 90, FLA. STAT, AND
State Street Bank v. Lord, 851 So.2d 790 (Fla. 4 Dist. 2003)

NOTICE OF NO hearing notification, service, AND “event” PURSUANT TO E-DOCKET


CERTIFICATES OF SERVICE

INTERNATIONAL CERTIFIED MAIL


INTERNATIONAL RETURN RECEIPT
# RK680885168DE US 82061648 1274 041210 1203

Clerk of Court
Dwight E. Brock
Collier County Courthouse
3301 Tamiami Trail East
Naples, Florida 34112
United States

Disposition Judge Hugh D. Hayes;


Case # 112009CA0060160001XX;
Style: BANKUNITED vs FRANKLIN-PRESCOTT, JENNIFER

BANKUNITED FORECLOSURE FRAUD


12/4/2010 Uniform Commercial Code - Article 3
§ 3-306. CLAIMS TO AN INSTRUMENT.
A person taking an instrument, other than a person having rights of a holder in due course, is
subject to a claim of a property or possessory right in the instrument or its proceeds,
including a claim to rescind a negotiation and to recover the instrument or its proceeds. A
person having rights of a holder in due course takes free of the claim to the instrument.

§ 3-307. NOTICE OF BREACH OF FIDUCIARY DUTY.


(a) In this section:

(1) "Fiduciary" means an agent, trustee, partner, corporate officer or director, or other
representative owing a fiduciary duty with respect to an instrument.

(2) "Represented person" means the principal, beneficiary, partnership, corporation, or


other person to whom the duty stated in paragraph (1) is owed.

(b) If (i) an instrument is taken from a fiduciary for payment or collection or for value, (ii) the
taker has knowledge of the fiduciary status of the fiduciary, and (iii) the represented person
makes a claim to the instrument or its proceeds on the basis that the transaction of the
fiduciary is a breach of fiduciary duty, the following rules apply:

(1) Notice of breach of fiduciary duty by the fiduciary is notice of the claim of the
represented person.

(2) In the case of an instrument payable to the represented person or the fiduciary as
such, the taker has notice of the breach of fiduciary duty if the instrument is (i) taken in
payment of or as security for a debt known by the taker to be the personal debt of the
fiduciary, (ii) taken in a transaction known by the taker to be for the personal benefit of
the fiduciary, or (iii) deposited to an account other than an account of the fiduciary, as
such, or an account of the represented person.

(3) If an instrument is issued by the represented person or the fiduciary as such, and made
payable to the fiduciary personally, the taker does not have notice of the breach of
fiduciary duty unless the taker knows of the breach of fiduciary duty.

(4) If an instrument is issued by the represented person or the fiduciary as such, to the
taker as payee, the taker has notice of the breach of fiduciary duty if the instrument is (i)
taken in payment of or as security for a debt known by the taker to be the personal debt of
the fiduciary, (ii) taken in a transaction known by the taker to be for the personal benefit
of the fiduciary, or (iii) deposited to an account other than an account of the fiduciary, as
such, or an account of the represented person.

§ 3-308. PROOF OF SIGNATURES AND STATUS AS HOLDER IN DUE COURSE.


(a) In an action with respect to an instrument, the authenticity of, and authority to make,
each signature on the instrument is admitted unless specifically denied in the pleadings. If
the validity of a signature is denied in the pleadings, the burden of establishing validity is on
the person claiming validity, but the signature is presumed to be authentic and authorized
unless the action is to enforce the liability of the purported signer and the signer is dead or
incompetent at the time of trial of the issue of validity of the signature. If an action to
enforce the instrument is brought against a person as the undisclosed principal of a person
who signed the instrument as a party to the instrument, the plaintiff has the burden of
establishing that the defendant is liable on the instrument as a represented person under
Section 3-402(a).

(b) If the validity of signatures is admitted or proved and there is compliance with subsection
(a), a plaintiff producing the instrument is entitled to payment if the plaintiff proves
entitlement to enforce the instrument under Section 3-301, unless the defendant proves a
www.law.cornell.edu/ucc/3/article3.htm 15/33
12/4/2010 Uniform Commercial Code - Article 3
unless the purchaser is a converter under subsection (c) or has notice or knowledge of
breach of fiduciary duty as stated in subsection (d).

(f) In an action to enforce the obligation of a party to pay the instrument, the obligor has a
defense if payment would violate an indorsement to which this section applies and the
payment is not permitted by this section.

§ 3-207. REACQUISITION.
Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or
otherwise. A former holder who reacquires the instrument may cancel indorsements made
after the reacquirer first became a holder of the instrument. If the cancellation causes the
instrument to be payable to the reacquirer or to bearer, the reacquirer may negotiate the
instrument. An indorser whose indorsement is canceled is discharged, and the discharge is
effective against any subsequent holder.

PART 3. ENFORCEMENT OF INSTRUMENTS [Table of Contents]


§ 3-301. PERSON ENTITLED TO ENFORCE INSTRUMENT.
"Person entitled to enforce" an instrument means (i) the holder of the instrument, (ii) a
nonholder in possession of the instrument who has the rights of a holder, or (iii) a person not
in possession of the instrument who is entitled to enforce the instrument pursuant to Section
3-309 or 3-418(d). A person may be a person entitled to enforce the instrument even though
the person is not the owner of the instrument or is in wrongful possession of the instrument.

§ 3-302. HOLDER IN DUE COURSE.


(a) Subject to subsection (c) and Section 3-106(d), "holder in due course" means the
holder of an instrument if:

(1) the instrument when issued or negotiated to the holder does not bear such apparent
evidence of forgery or alteration or is not otherwise so irregular or incomplete as to call into
question its authenticity; and

(2) the holder took the instrument (i) for value, (ii) in good faith, (iii) without notice that
the instrument is overdue or has been dishonored or that there is an uncured default with
respect to payment of another instrument issued as part of the same series, (iv) without
notice that the instrument contains an unauthorized signature or has been altered, (v)
without notice of any claim to the instrument described in Section 3-306, and (vi) without
notice that any party has a defense or claim in recoupment described in Section 3-305(a).

(b) Notice of discharge of a party, other than discharge in an insolvency proceeding, is not
notice of a defense under subsection (a), but discharge is effective against a person who
became a holder in due course with notice of the discharge. Public filing or recording of a
document does not of itself constitute notice of a defense, claim in recoupment, or claim to
the instrument.

(c) Except to the extent a transferor or predecessor in interest has rights as a holder in due
course, a person does not acquire rights of a holder in due course of an instrument taken (i)
by legal process or by purchase in an execution, bankruptcy, or creditor's sale or similar
proceeding, (ii) by purchase as part of a bulk transaction not in ordinary course of business of
the transferor, or (iii) as the successor in interest to an estate or other organization.

(d) If, under Section 3-303(a)(1), the promise of performance that is the consideration for
an instrument has been partially performed, the holder may assert rights as a holder in due
course of the instrument only to the fraction of the amount payable under the instrument
equal to the value of the partial performance divided by the value of the promised
www.law.cornell.edu/ucc/3/article3.htm 12/33
12/4/2010 Uniform Commercial Code - Article 3
defense or claim in recoupment. If a defense or claim in recoupment is proved, the right to
payment of the plaintiff is subject to the defense or claim, except to the extent the plaintiff
proves that the plaintiff has rights of a holder in due course which are not subject to the
defense or claim.

§ 3-309. ENFORCEMENT OF LOST, DESTROYED, OR STOLEN INSTRUMENT.


(a) A person not in possession of an instrument is entitled to enforce the instrument if:

(1) the person seeking to enforce the instrument

(A) was entitled to enforce it the instrument when loss of possession occurred, or

(B) has directly or indirectly acquired ownership of the instrument from a person who was
entitled to enforce the instrument when loss of possession occurred;

(2) the loss of possession was not the result of a transfer by the person or a lawful seizure;
and

(3) the person cannot reasonably obtain possession of the instrument because the
instrument was destroyed, its whereabouts cannot be determined, or it is in the wrongful
possession of an unknown person or a person that cannot be found or is not amenable to
service of process.

(b) A person seeking enforcement of an instrument under subsection (a) must prove the
terms of the instrument and the person's right to enforce the instrument. If that proof is
made, Section 3-308 applies to the case as if the person seeking enforcement had produced
the instrument. The court may not enter judgment in favor of the person seeking
enforcement unless it finds that the person required to pay the instrument is adequately
protected against loss that might occur by reason of a claim by another person to enforce
the instrument. Adequate protection may be provided by any reasonable means.

§ 3-310. EFFECT OF INSTRUMENT ON OBLIGATION FOR WHICH TAKEN.


(a) Unless otherwise agreed, if a certified check, cashier's check, or teller's check is taken
for an obligation, the obligation is discharged to the same extent discharge would result if an
amount of money equal to the amount of the instrument were taken in payment of the
obligation. Discharge of the obligation does not affect any liability that the obligor may have
as an indorser of the instrument.

(b) Unless otherwise agreed and except as provided in subsection (a), if a note or an
uncertified check is taken for an obligation, the obligation is suspended to the same extent
the obligation would be discharged if an amount of money equal to the amount of the
instrument were taken, and the following rules apply:

(1) In the case of an uncertified check, suspension of the obligation continues until
dishonor of the check or until it is paid or certified. Payment or certification of the check
results in discharge of the obligation to the extent of the amount of the check.

(2) In the case of a note, suspension of the obligation continues until dishonor of the note
or until it is paid. Payment of the note results in discharge of the obligation to the extent
of the payment.

(3) Except as provided in paragraph (4), if the check or note is dishonored and the obligee
of the obligation for which the instrument was taken is the person entitled to enforce the
instrument, the obligee may enforce either the instrument or the obligation. In the case of
an instrument of a third person which is negotiated to the obligee by the obligor, discharge
of the obligor on the instrument also discharges the obligation.

www.law.cornell.edu/ucc/3/article3.htm 16/33
12/4/2010 Uniform Commercial Code - Article 3

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UCC: uniform commercial code

U.C.C. - ARTICLE 3 - NEGOTIABLE

INSTRUMENTS

PART 1. GENERAL PROVISIONS AND DEFINITIONS [Table of


Contents]
§ 3-101. SHORT TITLE.
This Article may be cited as Uniform Commercial Code -- Negotiable Instruments.

§ 3-102. SUBJECT MATTER.


(a) This Article applies to negotiable instruments. It does not apply to money, to payment
orders governed by Article 4A, or to securities governed by Article 8.

(b) If there is conflict between this Article and Article 4 or 9, Articles 4 and 9 govern.

(c) Regulations of the Board of Governors of the Federal Reserve System and operating
circulars of the Federal Reserve Banks supersede any inconsistent provision of this Article to
the extent of the inconsistency.

§ 3-103. DEFINITIONS.
(a) In this Article:

(1) "Acceptor" means a drawee who has accepted a draft.

(2) "Consumer account" means an account established by an individual primarily for


personal, family, or household purposes.

(3) "Consumer transaction" means a transaction in which an individual incurs an obligation


primarily for personal, family, or household purposes.

(4) "Drawee" means a person ordered in a draft to make payment.

(5) "Drawer" means a person who signs or is identified in a draft as a person ordering
payment.
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Title XL Chapter 701 View Entire
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REAL AND PERSONAL ASSIGNMENT AND CANCELLATION OF Chapter
Video Broadcasts PROPERTY MORTGAGES
CHAPTER 701
ASSIGNMENT AND CANCELLATION OF MORTGAGES
Session: 2011
701.01 Assignment.
Bill #: Go 701.02 Assignment not effectual against creditors unless recorded and indicated in title of
document; applicability.
701.03 Cancellation.
Session: 2011 701.04 Cancellation of mortgages, liens, and judgments.
701.041 Title insurer; mortgage release certificate.
Chamber: Senate 701.06 Certain cancellations and satisfactions of mortgages validated.

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Year: 2010

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12/4/2010 Statutes & Constitution :View Statutes…

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December 04, 2010 Print This Page


Home Select Year: 2010 Go
Session
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Title XL Chapter 701 View Entire
Statutes & Constitution
REAL AND PERSONAL ASSIGNMENT AND CANCELLATION OF Chapter
Video Broadcasts PROPERTY MORTGAGES
701.02 Assignment not effectual against creditors unless recorded and indicated in title of
document; applicability.—
Session: 2011 (1) An assignment of a mortgage upon real property or of any interest therein, is not good or
effectual in law or equity, against creditors or subsequent purchasers, for a valuable consideration,
Bill #: Go
and without notice, unless the assignment is contained in a document that, in its title, indicates an
assignment of mortgage and is recorded according to law.
(2) This section also applies to assignments of mortgages resulting from transfers of all or any
Session: 2011 part or parts of the debt, note or notes secured by mortgage, and none of same is effectual in law or
in equity against creditors or subsequent purchasers for a valuable consideration without notice,
Chamber: Senate
unless a duly executed assignment be recorded according to law.
(3) Any assignment of a mortgage, duly executed and recorded according to law, purporting to
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assign the principal of the mortgage debt or the unpaid balance of such principal, shall, as against
subsequent purchasers and creditors for value and without notice, be held and deemed to assign any
and all accrued and unpaid interest secured by such mortgage, unless such interest is specifically and
Year: 2010
affirmatively reserved in such an assignment by the assignor, and a reservation of such interest or
any part thereof may not be implied.
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(4) Notwithstanding subsections (1), (2), and (3) governing the assignment of mortgages,
chapters 670-680 of the Uniform Commercial Code of this state govern the attachment and perfection
of a security interest in a mortgage upon real property and in a promissory note or other right to
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payment or performance secured by that mortgage. The assignment of such a mortgage need not be
Go recorded under this section for purposes of attachment or perfection of a security interest in the
mortgage under the Uniform Commercial Code.
(5) Notwithstanding subsection (4), a creditor or subsequent purchaser of real property or any
interest therein, for valuable consideration and without notice, is entitled to rely on a full or partial
release, discharge, consent, joinder, subordination, satisfaction, or assignment of a mortgage upon
such property made by the mortgagee of record, without regard to the filing of any Uniform
Commercial Code financing statement that purports to perfect a security interest in the mortgage or
in a promissory note or other right to payment or performance secured by the mortgage, and the
filing of any such financing statement does not constitute notice for the purposes of this section. For
the purposes of this subsection, the term “mortgagee of record” means the person named as the
mortgagee in the recorded mortgage or, if an assignment of the mortgage has been recorded in
accordance with this section, the term “mortgagee of record” means the assignee named in the
recorded assignment.
History .—s. 1, ch. 6909, 1915; RGS 3841; CGL 5744; s. 13, ch. 20954, 1941; s. 2, ch. 89-41; s. 20, ch. 2005-241.

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