Colorado § 4-3-501 Presentment

Colorado Statutes

§ 4-3-501 — Presentment

Colorado·Title 04 Uniform·Art. Negotiable Instruments

(a)Presentment means a demand made by or on behalf of a person entitled to enforce an instrument (i) to pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank, or (ii) to accept a draft made to the drawee.

(b)The following rules are subject to article 4 of this title, agreement of the parties, and clearing-house rules and the like:

(1)Presentment may be made at the place of payment of the instrument and must be made at the place of payment if the instrument is payable at a bank in the United States; may be made by any commercially reasonable means, including an oral, written, or electronic communication; is effective when the demand for payment or acceptance is received by the p

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(a) Presentment means a demand made by or on
behalf of a person entitled to enforce an instrument (i) to pay the instrument made
to the drawee or a party obliged to pay the instrument or, in the case of a note or
accepted draft payable at a bank, to the bank, or (ii) to accept a draft made to the
drawee.

(b) The following rules are subject to article 4 of this title, agreement of the
parties, and clearing-house rules and the like:

(1) Presentment may be made at the place of payment of the instrument and
must be made at the place of payment if the instrument is payable at a bank in the
United States; may be made by any commercially reasonable means, including an
oral, written, or electronic communication; is effective when the demand for
payment or acceptance is received by the person to whom presentment is made;
and is effective if made to any one of two or more makers, acceptors, drawees, or
other payors.

(2) Upon demand of the person to whom presentment is made, the person
making presentment must (i) exhibit the instrument, (ii) give reasonable
identification and, if presentment is made on behalf of another person, reasonable
evidence of authority to do so, and (iii) sign a receipt on the instrument for any
payment made or surrender the instrument if full payment is made.

(3) Without dishonoring the instrument, the party to whom presentment is
made may (i) return the instrument for lack of a necessary indorsement, or (ii)
refuse payment or acceptance for failure of the presentment to comply with the
terms of the instrument, an agreement of the parties, or other applicable law or
rule.

(4) The party to whom presentment is made may treat presentment as
occurring on the next business day after the day of presentment if the party to
whom presentment is made has established a cut-off hour not earlier than 2 p.m. for
the receipt and processing of instruments presented for payment or acceptance
and presentment is made after the cut-off hour.

Colorado § 4-3-501 (Presentment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.