30-3-503. Repealed
30-3-503. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-503, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-503.
30-3-504. Presentment
30-3-504. Presentment. (1) “Presentment” means a demand: (a) to pay an instrument made to the maker, drawee, or acceptor or, in the case of a note of accepted draft payable at a bank, to the bank; or (b) to accept a draft made to the drawee by a person entitled to enforce the instrument. (2) Subject to chapter 4, […]
30-3-505. Repealed
30-3-505. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-505, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-505.
30-3-506. Repealed
30-3-506. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-506, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-506.
30-3-422. Obligation of acceptor
30-3-422. Obligation of acceptor. (1) An acceptor of a draft is obliged to pay the draft: (a) according to its terms at the time it was accepted, even though the acceptance states that the draft is payable “as originally drawn” or equivalent terms; (b) if the acceptance varies the terms of the draft, according to the terms of […]
30-3-423. Obligation of drawer
30-3-423. Obligation of drawer. (1) If an unaccepted draft is dishonored, the drawer is obliged to pay the draft: (a) according to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder; or (b) if the drawer signed an incomplete instrument, according to its terms […]
30-3-424. Presentment warranties
30-3-424. Presentment warranties. (1) If an unaccepted draft is presented to the drawee for payment or acceptance and the drawee pays or accepts the draft, the person obtaining payment or acceptance, at the time of presentment, and a previous transferor of the draft, at the time of transfer, warrant to the drawee making the payment or […]
30-3-425. Payment or acceptance by mistake
30-3-425. Payment or acceptance by mistake. (1) Except as provided in subsection (3), if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that payment of the draft had not been stopped under 30-4-403, the signature of the purported drawer of the draft was authorized, or the […]
30-3-501. Repealed
30-3-501. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-501, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-501.
30-3-502. Repealed
30-3-502. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-502, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-502.