§ 41-03-65 — (3-603) Tender of payment

North Dakota § 41-03-65

• Jurisdiction: North Dakota
• Title 41: Uniform Commercial Code
• Ch. 41-03: Negotiable Instruments

Text

1. If tender of payment of an obligation to pay an instrument is made to a person entitled
to enforce the instrument, the effect of tender is governed by principles of law
applicable to tender of payment under a simple contract.
2. If tender of payment of an obligation to pay an instrument is made to a person entitled
to enforce the instrument and the tender is refused, there is discharge, to the extent of
the amount of the tender, of the obligation of an endorser or accommodation party
having a right of recourse with respect to the obligation to which the tender relates.
3. If tender of payment of an amount due on an instrument is made to the person entitled
to enforce the instrument, the obligation of the obligor to pay interest after the due date
on the amount tendered is discharged. If presentment is required with respect to an
instrument and the obligor is able and ready to pay on the due date at every place of
payment stated in the instrument, the obligor is deemed to have made tender of
payment on the due date to the person entitled to enforce the instrument.