Texas Business & Commerce Code

§ 3.504 — EXCUSED PRESENTMENT AND NOTICE OF DISHONOR

BC § 3.504Title 1. UNIFORM COMMERCIAL CODE · Ch. 3. NEGOTIABLE INSTRUMENTS · Art. E. DISHONOR

Statute text

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(a)Presentment for payment or acceptance of an instrument is excused if:

(1)the person entitled to present the instrument cannot with reasonable diligence make presentment;

(2)the maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings;

(3)by the terms of the instrument presentment is not necessary to enforce the obligation of indorsers or the drawer;

(4)the drawer or indorser whose obligation is being enforced has waived presentment or otherwise has no reason to expect or right to require that the instrument be paid or accepted; or

(5)the drawer instructed the drawee not to pay or accept the draft or the drawee was not obligated to the drawer to pay the draft.

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Legislative history

Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff. Jan. 1, 1996.