28-3-501. PRESENTMENT. (1) "Presentment" means a demand made by or on behalf of a person entitled to enforce an instrument (i) to pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank, or […]
28-3-502. DISHONOR. (1) Dishonor of a note is governed by the following rules: (a) If the note is payable on demand, the note is dishonored if presentment is duly made to the maker and the note is not paid on the day of presentment. (b) If the note is not payable on demand and is […]
28-3-503. NOTICE OF DISHONOR. (1) The obligation of an indorser stated in section 28-3-415(1) and the obligation of a drawer stated in section 28-3-414(4) may not be enforced unless, (i) the indorser or drawer is given notice of dishonor of the instrument complying with this section, or (ii) notice of dishonor is excused under section […]
28-3-504. EXCUSED PRESENTMENT AND NOTICE OF DISHONOR. (1) Presentment for payment or acceptance of an instrument is excused if (i) the person entitled to present the instrument cannot with reasonable diligence make presentment, (ii) the maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings, (iii) by […]
28-3-505. EVIDENCE OF DISHONOR. (1) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated: (a) A document regular in form as provided in subsection (2) of this section which purports to be a protest; (b) A purported stamp or writing of the drawee, payor bank […]
