The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 3-504)
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§ 3—504. 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. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)