N.Y. Uniform Commercial Code Law § 3-404: Unauthorized Signatures

Section 3--404. Unauthorized Signatures.

(1) Any unauthorized signature is wholly inoperative as that of the

person whose name is signed unless he ratifies it or is precluded from

denying it; but it operates as the signature of the unauthorized signer

in favor of any person who in good faith pays the instrument or takes it

for value.

(2) Any unauthorized signature may be ratified for all purposes of

this Article. Such ratification does not of itself affect any rights of

the person ratifying against the actual signer.