70A-3-504 - Excused presentment and notice of dishonor.
70A-3-504. 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 makepresentment;
(b) the maker or acceptor has repudiated an obligation to pay the instrument, is dead, or isin insolvency proceedings;
(c) by the terms of the instrument presentment is not necessary to enforce the obligationof indorsers or the drawer;
(d) the drawer or indorser whose obligation is being enforced has waived presentment orotherwise has no reason to expect or right to require that the instrument be paid or accepted; or
(e) the drawer instructed the drawee not to pay or accept the draft or the drawee was notobligated to the drawer to pay the draft.
(2) Notice of dishonor is excused if by the terms of the instrument notice of dishonor isnot necessary to enforce the obligation of a party to pay the instrument, or the party whoseobligation is being enforced waived notice of dishonor. A waiver of presentment is also a waiverof notice of dishonor.
(3) Delay in giving notice of dishonor is excused if the delay was caused bycircumstances beyond the control of the person giving the notice and the person giving the noticeexercised reasonable diligence after the cause of the delay ceased to operate.
Repealed and Re-enacted by Chapter 237, 1993 General Session