1) issued as an unaccepted offer in settlement of an unliquidated amount;

1. 2) issued but later was replaced with another instrument because the earlier instrument was lost or contained an error that was corrected;

7) issued but there was a failure of consideration;

1. 8) voided not later than 90 days after issuance for a valid business reason set forth in a contemporaneous record;

   1. A) for purposes of this provision "valid business reason" does not include a policy of voiding outstanding checks, drafts, or similar instruments after a specified number of days;
   2. B) a policy of automatically voiding would be tantamount to a private escheat law in violation of longstanding public policy in Illinois (see People ex rel. Callahan v. Marshall Field & Co., 83 Ill. App. 3d 811, 818, 404 N.E.2d 368, 374 (1980));
   3. C) this defense merely indicates that when a check, draft, or similar instrument is voided quickly, for a valid business reason (i.e., not as a private escheat law), and the reason is indicated in a contemporaneous record, there is sufficient evidence to overcome the prima facie evidence of the existence of a debt or obligation; or
2. 9) issued but not delivered to the third-party payee for a sufficient reason recorded within a reasonable time after issuance. [765 ILCS 1026/15-1005(c)]
3. d) In asserting a defense under this Section, and subject to the records retention requirements of the Act, a putative holder may present evidence of a course of dealing between the putative holder and the apparent owner. [765 ILCS 1026/15-1005(d)]