§ 34.1-3-504 — Excused presentment and notice of dishonor

Wyoming § 34.1-3-504

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 3: NEGOTIABLE INSTRUMENTS

Text

(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.
(b) Notice of dishonor is excused if (1) by the terms of
the instrument notice of dishonor is not necessary to enforce
the obligation of a party to pay the instrument, or (2) the
party whose obligation is being enforced waived notice of
dishonor. A waiver of presentment is also a waiver of notice of
dishonor.
(c) Delay in giving notice of dishonor is excused if the
delay was caused by circumstances beyond the control of the
person giving the notice and the person giving the notice
exercised reasonable diligence after the cause of the delay
ceased to operate.