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UETA
(a) In this section, “transferable record” means an electronic record that: (1) would be
a note under [Article 3 of the Uniform Commercial Code] or a document under
[Article 7 of the Uniform Commercial Code] if the electronic record were in
writing; and (2) the issuer of the electronic record expressly has agreed is a
transferable record. The key is (a)(2) - the issuer expressly has agreed.
from the comments to Section 16: However, conversion of a paper note issued as such
would not be possible because the issuer would not be theissuer, in such a case, of an
electronic record.
Section 17-19 have been bracketed as optional provisions to be considered for adoption
by each State.
Among the barriers to electronic commerce are barriers which exist in the use of
electronic media by State governmental agencies - whether among themselves or in
external dealing with the private sector.