Okla. Stat. tit. 12A, § 12A-3-504
This is the official text of Okla. Stat. tit. 12A, § 12A-3-504, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Excused Presentment and Notice of Dishonor
Official statutory text
EXCUSED PRESENTMENT AND NOTICE OF DISHONOR
(a) Presentment for payment or acceptance of an instrument is
excused if (i) the person entitled to present the instrument cannot
with reasonable diligence make presentment, (ii) the maker or
acceptor has repudiated an obligation to pay the instrument or is
dead or in insolvency proceedings, (iii) by the terms of the
instrument presentment is not necessary to enforce the obligation of
indorsers or the drawer, (iv) 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 (v) 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 (i) by the terms of the
instrument notice of dishonor is not necessary to enforce the
obligation of a party to pay the instrument, or (ii) 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.
(a) Presentment for payment or acceptance of an instrument is
excused if (i) the person entitled to present the instrument cannot
with reasonable diligence make presentment, (ii) the maker or
acceptor has repudiated an obligation to pay the instrument or is
dead or in insolvency proceedings, (iii) by the terms of the
instrument presentment is not necessary to enforce the obligation of
indorsers or the drawer, (iv) 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 (v) 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 (i) by the terms of the
instrument notice of dishonor is not necessary to enforce the
obligation of a party to pay the instrument, or (ii) 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.
Status: in_force · Read it on the official government site
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