- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 3. Negotiable Instruments
- Section 504. Excused Presentment and Notice of Dishonor.
previous: Section 503
. Notice of Dishonor.
next: Section 505
. Evidence of Dishonor.
AS 45.03.504. Excused Presentment and Notice of Dishonor.
- (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 endorsers or the drawer;
- (4) the drawer or endorser whose obligation is being enforced has waived presentment or otherwise does not have a reason
to expect or a 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
- (b) Notice of dishonor is excused if by the terms of the instrument notice of dishonor is not necessary to enforce the
obligation of a party to pay the instrument, or 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.
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