Section captions are part of the Uniform Commercial Code.

History: 1953 Comp., § 50A-1-109, enacted by Laws 1961, ch. 96, § 1-109 1978 Comp., § 55-1-109; recompiled by compiler as NMSA 1978, § 55-1-107; Laws 2005, ch. 144, § 7.

OFFICIAL COMMENTS

UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.

Source. — Former Section 1-109 [55-1-109 NMSA 1978].

Changes from former law. — None.

Section captions are a part of the text of the Uniform Commercial Code, and not mere surplusage. This is not the case, however, with respect to subsection headings appearing in Article 9. See Comment 3 to Section 9-101 [55-9-101 NMSA 1978] ("subsection headings are not a part of the official text itself and have not been approved by the sponsors.").

Cross references. — Sections 1-203, 2-201 and 2-209; and see Section 2-719.

"Aggrieved party". Section 1-201.

"Rights". Section 1-201.

"Signed". Section 1-201.

"Written". Section 1-201.

Repeals and reenactments. — Laws 2005, ch. 144, § 7, effective January 1, 2006, repealed former 55-1-107 NMSA 1978 as enacted by Laws 1961, ch. 96, § 1-107, and enacted a new 55-1-107 NMSA 1978. The substance of former 55-1-107 NMSA 1978 has been enacted as a new 55-1-306 NMSA 1978 by Laws 2005, ch. 144, § 20. For provisions of former 55-1-107 NMSA 1978, see the 2004 NMSA 1978 on NMOneSource.com.

Law reviews. — Clovis Nat'l Bank v. Thomas, 77 N.M. 554, 425 P.2d 726 (1967), commented on in 8 Nat. Resources J. 183 (1968).

For article, "Essential Attributes of Commercial Paper - Part I," see 1 N.M. L. Rev. 479 (1971).

Am. Jur. 2d, A.L.R. and C.J.S. references. — 11 Am. Jur. 2d Bills and Notes §§ 382, 927, 934, 948 to 950; 28 Am. Jur. 2d Estoppel and Waiver § 162; 68A Am. Jur. 2d Secured Transactions §§ 434 et seq., 590 et seq., 638 et seq.

17A C.J.S. Contracts § 491.