N.Y. U.C.C. 3-404

Section 3--404. Unauthorized Signatures.\n (1) Any unauthorized signature is wholly inoperative as that of the\nperson whose name is signed unless he ratifies it or is precluded from\ndenying it; but it operates as the signature of the unauthorized signer\nin favor of any person who in good faith pays the instrument or takes it\nfor value.\n (2) Any unauthorized signature may be ratified for all purposes of\nthis Article. Such ratification does not of itself affect any rights of\nthe person ratifying against the actual signer.\n