Marquette Law Review Volume 74 Article 7 Issue 3 Spring-Summer 1991 Article 3 Demand Notes and the Doctrine of Good Faith Carolyn M. Edwards Follow this and additional works at: http://scholarship.law.marquette.edu/mulr Part of the Law Commons Repository Citation Carolyn M. Edwards, Article 3 Demand Notes and the Doctrine of Good Faith, 74 Marq. L. Rev. 481 (1991). Available at: http://scholarship.law.marquette.edu/mulr/vol74/iss3/7 This Article is brought to you for free and open access by the Journals at Marquette Law Scholarly Commons. It has been accepted for inclusion in Marquette Law Review by an authorized administrator of Marquette Law Scholarly Commons. For more information, please contact
[email protected]. ARTICLE 3 DEMAND NOTES AND THE DOCTRINE OF GOOD FAITH CAROLYN M. EDWARDS I. INTRODUCTION Article 31 of the Uniform Commercial Code ("Code") governs the rights and liabilities of parties who sign negotiable instruments, including checks and promissory notes.2 Section 3-104' establishes the requirements that a writing must satisfy to fall within the scope of the Article. The prin- ciples contained in this section are virtually identical to those that existed under prior law.4 It is surprising, therefore, that from the time the Code was enacted by state legislatures,5 disagreement has existed over what rights and obligations flow between the maker6 of a note and its holder.' 1. Article 3 covers commercial paper, including drafts, checks, certificates of deposit, and notes. It does not apply to money, document of title or investment securities. See U.C.C.