This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, pertains to the notice of dishonor for endorsers, drawers, and collecting banks. It states that the obligations of an endorser or drawer cannot be enforced unless they are given notice of dishonor complying with the requirements of this section, or if notice of dishonor is excused under section 336.3-504 (b). Notice of dishonor can be given by any person through various means, such as oral, written, or electronic communication, as long as it reasonably identifies the instrument and indicates that it has been dishonored or not paid or accepted.

This legal provision, under the Minnesota Statutes, specifically under the Uniform Commercial Code, governs the excused presentment and notice of dishonor for instruments. It outlines the circumstances under which presentment for payment or acceptance of an instrument is excused, such as when the person entitled to present the instrument cannot reasonably make presentment, or when the maker or acceptor has repudiated an obligation to pay the instrument. The provision also states that notice of dishonor may be excused if it is not necessary to enforce the obligation of a party to pay the instrument or if the party whose obligation is being enforced waived notice of dishonor.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, specifically addresses the evidence of dishonor in commercial transactions. It outlines the admissible evidence that creates a presumption of dishonor and notice of dishonor. The document states that a document regular in form, such as a protest, can be used as evidence. Additionally, a stamp or writing of the drawee, payor bank, or presenting bank refusing acceptance or payment can also be considered evidence of dishonor.

336.3-601 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-601 DISCHARGE AND EFFECT OF DISCHARGE. (a) The obligation of a party to pay the instrument is discharged as stated in this article or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract. (b) Discharge of the obligation of a party is not effective against a person acquiring rights of a holder in due course of the instrument without notice of the discharge.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, specifically section 336.3-602, pertains to the payment of instruments. It states that an instrument is considered paid when payment is made by or on behalf of a party obliged to pay the instrument to a person entitled to enforce the instrument. Additionally, it mentions that a note is considered paid if payment is made by or on behalf of a party obliged to pay the note to a person that formerly was entitled to enforce the note, provided that the party obliged to pay has not received adequate notification of the note’s transfer.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, addresses the tender of payment for obligations related to instruments. It states that if payment is tendered to a person entitled to enforce the instrument, the principles of law applicable to tender of payment under a simple contract apply. If the tender of payment is refused, the obligation of an endorser or accommodation party with a right of recourse is discharged to the extent of the tendered amount.

This legal provision, found in the Minnesota Statutes under the Trade Regulations and Consumer Protection section of the Uniform Commercial Code, pertains to the discharge of obligations related to the payment of an instrument. It states that a person entitled to enforce an instrument can discharge the obligation of a party to pay the instrument through intentional voluntary acts such as surrendering, destroying, mutilating, or canceling the instrument, striking out the party’s signature, or adding words indicating discharge.

This legal document, under the Minnesota Statutes, specifically the Uniform Commercial Code (UCC), addresses the discharge of secondary obligors. It outlines the rules and consequences when a person entitled to enforce an instrument releases the obligation of a principal obligor, and another party to the instrument is a secondary obligor. The document explains that the obligations of the principal obligor to the secondary obligor with respect to previous payments are not affected, unless the terms of the release preserve the secondary obligor’s recourse.

This article may be cited as Uniform Commercial Code - Bank Deposits and Collections. History: 1965 c 811 s 336.4-101; 1992 c 565 s 72

(a) To the extent that items within this article are also within articles 3 and 8, they are subject to those articles. If there is conflict, this article governs article 3, but article 8 governs this article. (b) The liability of a bank for action or nonaction with respect to an item handled by it for purposes of presentment, payment, or collection is governed by the law of the place where the bank is located.