(1) Of any holder in due course on the item against the drawer or maker;
(2) Of the payee or any other holder of the item against the drawer or maker either on the item or under the transaction out of which the item arose; and
(3) Of the drawer or maker against the payee or any other holder of the item with respect to the transaction out of which the item arose.
History.—s. 1, ch. 65-254; s. 44, ch. 92-82.
Note.—s. 4-407, U.C.C.; supersedes s. 659.34.
