MARVIN MANDEL, Governor                                  157

or dispose of the collateral; or

(c)   A promise or power to maintain or protect
collateral or to give additional collateral; or

(d)     A tern authorizing a confession of
judgment on the instrument if it is not paid when due; or

(e)   A term purporting to waive the benefit of
any law intended for the advantage or protection of any
obligor; or

(f)    A term in a draft providing that the
payee by indorsing or cashing it acknowledges full
satisfaction of an obligation of the drawer; or

(g)    A statement in a draft drawn in a set of
parts (§ 3—801) to the effect that the order is effective
only if no other part has been honored.

(2) Nothing in this section shall validate any term
which is otherwise illegal.

3-113. Seal.

An instrument otherwise negotiable is within this
[subtitle] TITLE even though it is under a seal.

3—114. Date, antedating, postdating.

(1)    The negotiability of an instrument is not
affected by the fact that it is undated, antedated or
postdated.

(2)    Where an instrument is antedated or postdated
the time when it is payable is determined by the stated
date if the instrument is payable on demand or at a fixed
period after date.

(3)    Where the instrument or any signature thereon
is dated, the date is presumed to be correct.

3—115. Incomplete instruments.

(1)   When a paper whose contents at the time of
signing show that it is intended to become an instrument
is signed while still incomplete in any necessary respect
it cannot be enforced until completed, but when it is
completed in accordance with authority given it is
effective as completed.

(2)   If the completion is unauthorized the rules as
to material alteration apply (§ 3—407), even though the
paper was not delivered by the maker or drawer; but the