New Mexico Statutes
§ 55-1-205 — Reasonable time; seasonableness
(a)Whether a time for taking an action required by the Uniform Commercial Code is reasonable depends on the nature, purpose and circumstances of the action.
(b)An action is taken seasonably if it is taken at or within the time agreed or, if no time is agreed, at or within a reasonable time.
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Legislative History
1953 Comp., § 50A-1-204, enacted by Laws 1961, ch. 96, § 1-204; 1978
Nearby Sections
15
§ 55-1-101
Short titles§ 55-1-102
Scope of article§ 55-1-104
Construction against implicit repeal§ 55-1-105
Severability§ 55-1-106
Use of singular and plural; gender§ 55-1-107
Section captions§ 55-1-109
Repealed§ 55-1-110
Repealed§ 55-1-201
General definitions§ 55-1-202
Notice; knowledge§ 55-1-204
Value§ 55-1-205
Reasonable time; seasonableness