The Uniform Commercial Code provides that the loss falls upon the party whose conduct in signing a blank instrument made the fraud possible,that is,whose negligence or recklessness invited alterations by:

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The Uniform Commercial Code provides that the loss falls upon subsequent holders whose conduct in signing a blank instrument made the fraud possible, that is, whose negligence or recklessness invited alterations. Declarative, respective, and special holders are not mentioned in this context.

The Uniform Commercial Code Provides That the Loss Falls Upon