(810 ILCS 5/3-105)
(from Ch. 26, par. 3-105)
Issue of instrument.
(a) "Issue" means the first delivery of an instrument by the maker or
drawer, whether to a holder or nonholder, for the purpose of giving rights
on the instrument to any person.
(b) An unissued instrument, or an unissued incomplete instrument that is
completed, is binding on the maker or drawer, but nonissuance is a defense. An
instrument that is conditionally issued or is issued for a special purpose is
binding on the maker or drawer, but failure of the condition or special purpose
to be fulfilled is a defense.
(c) "Issuer" applies to issued and unissued instruments and means a maker or
drawer of an instrument.
(Source: P.A. 87-582; 87-1135.)