30-3-601. Discharge and effect of discharge
30-3-601. Discharge and effect of discharge. (1) The obligation of a party to pay the instrument is discharged as stated in this chapter or by an act or agreement with the party that would discharge an obligation to pay money under a simple contract. (2) Discharge of the obligation of a party is not effective against a […]
30-3-602. Repealed
30-3-602. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-602, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-602.
30-3-603. Payment
30-3-603. Payment. (1) Subject to subsection (2), an instrument is paid to the extent payment is made by or on behalf of a party obliged to pay the instrument and to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged […]
30-3-507. Repealed
30-3-507. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-507, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-507.
30-3-508. Notice of dishonor
30-3-508. Notice of dishonor. (1) The obligation of an indorser stated in 30-3-414(1) and the obligation of a drawer stated in 30-3-423(3) may not be enforced unless: (a) the indorser or drawer is given notice of dishonor of the instrument complying with this section; or (b) notice of dishonor is excused under 30-3-513(3). (2) Notice of dishonor may be […]
30-3-509. Repealed
30-3-509. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-509, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-509.
30-3-510. Evidence of dishonor
30-3-510. 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) that purports to be a protest; (b) the purported stamp or writing of the drawee, payor bank, or presenting bank on or accompanying […]
30-3-511. Repealed
30-3-511. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-511, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-511.
30-3-512. Dishonor
30-3-512. 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 and the note is not paid on the day of presentment. (b) If the note is not payable on demand and is payable at or through a bank […]
30-3-513. Excused presentment and notice of dishonor
30-3-513. Excused presentment and notice of dishonor. (1) Presentment for payment or acceptance of an instrument is excused if: (a) the person entitled to present the instrument cannot with reasonable diligence make presentment; (b) the maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings; (c) by the terms of the […]