§ 25-3-504. Excused presentment and notice of dishonor.
§25‑3‑504. Excused presentment and notice of dishonor.
(a) Presentment forpayment or acceptance of an instrument is excused if (i) the person entitled topresent the instrument cannot with reasonable diligence make presentment, (ii)the maker or acceptor has repudiated an obligation to pay the instrument or isin insolvency proceedings or is dead, (iii) by the terms of the instrumentpresentment is not necessary to enforce the obligation of indorsers or thedrawer, (iv) the drawer or indorser whose obligation is being enforced haswaived presentment or otherwise has no reason to expect or right to requirethat the instrument be paid or accepted, or (v) the drawer instructed thedrawee not to pay or accept the draft or the drawee was not obligated to the drawerto pay the draft.
(b) Notice of dishonoris excused if (i) by the terms of the instrument notice of dishonor is notnecessary to enforce the obligation of a party to pay the instrument, or (ii)the party whose obligation is being enforced waived notice of dishonor. Awaiver of presentment is also a waiver of notice of dishonor.
(c) Delay in givingnotice of dishonor is excused if the delay was caused by circumstances beyondthe control of the person giving the notice and the person giving the notice exercisedreasonable diligence after the cause of the delay ceased to operate. (1899,c. 733, ss. 79 to 82, 109 to 116, 130, 147, 148, 151, 159; Rev., ss. 2228 to2231, 2259 to 2266, 2280, 2297, 2298, 2301, 2309; C.S., ss. 3060 to 3063, 3091to 3098, 3112, 3129, 3130, 3133, 3141; 1965, c. 700, s. 1; 1995, c. 232, s. 1.)