Vermont § 407 - § 3—407.
Full text of Vermont Vermont Statutes Online § 407 — § 3—407., with citation guidance and answers to common questions.
§ 407. § 3—407.
- Alteration (a) “Alteration” means (i) an unauthorized change in an instrument that purports to modify
in any respect the obligation of a party, or (ii) an unauthorized addition of words
or numbers or other change to an incomplete instrument relating to the obligation
of a party. (b) Except as provided in subsection (c) of this section, an alteration fraudulently made
discharges a party whose obligation is affected by the alteration unless that party
assents or is precluded from asserting the alteration. No other alteration discharges
a party, and the instrument may be enforced according to its original terms. (c) A payor bank or drawee paying a fraudulently altered instrument or a person taking
it for value, in good faith and without notice of the alteration, may enforce rights
with respect to the instrument (i) according to its original terms, or (ii) in the
case of an incomplete instrument altered by unauthorized completion, according to
its terms as completed. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
Frequently Asked Questions About Vermont § 407
What does Vermont Statutes Online § 407 cover?
Section 407 ("§ 3—407.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 407?
A common citation format is "Vermont Statutes Online § 407" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 407 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.