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Can you summarize Article 14, Chapter 56 NMSA?
Commercial Instruments and Transactions > Worthless Checks
Short Summary
The provided legal document content pertains to civil actions against individuals who have drawn worthless checks in New Mexico. The document governs the process by which plaintiffs can seek damages from defendants who have issued such checks. The damages awarded to the plaintiff can be either $100 or triple the amount for which the check is drawn, whichever is greater. However, the damages awarded cannot exceed the amount of the check by more than $500. To be eligible for damages, the plaintiff must have made a written demand for payment at least ten days before commencing the action, and the defendant must have failed to tender the demanded amount. The plaintiff’s written demand must include notice that failure to pay within ten days may result in triple damages. The defendant has the option to tender the amount of the check and incurred court and service costs as satisfaction of the claim after the civil action has commenced but before the hearing. However, if the court or jury determines that the defendant’s failure to satisfy the worthless check was due to economic hardship resulting from an inevitable accident or act of God, they may waive all or part of the statutory damages. The document also provides definitions for terms such as ‘draw,’ ’thing of value,’ and ‘worthless check.’
Whom does it apply to?
Plaintiffs seeking damages from defendants who have drawn worthless checks
What does it govern?
Civil actions against individuals who have drawn worthless checks
What are exemptions?
The court or jury may waive all or part of the statutory damages if the defendant's failure to satisfy the worthless check was due to economic hardship resulting from an inevitable accident or act of God.
What are the Penalties?
Damages awarded to the plaintiff can be either $100 or triple the amount for which the check is drawn, whichever is greater. However, the damages awarded cannot exceed the amount of the check by more than $500.
Jurisdiction
New Mexico