§ 6A-3-504 - Excused presentment and notice of dishonor. - Rhode Island Statutes

SECTION 6A-3-504

   § 6A-3-504  Excused presentment and noticeof dishonor. – (a) Presentment for payment or acceptance of an instrument is excused if (i)the person entitled to present the instrument cannot with reasonable diligencemake presentment, (ii) the maker or acceptor has repudiated an obligation topay the instrument or is dead or in insolvency proceedings, (iii) by the termsof the instrument presentment is not necessary to enforce the obligation ofindorsers or the drawer, (iv) the drawer or indorser whose obligation is beingenforced has waived presentment or otherwise has no reason to expect or rightto require that the instrument be paid or accepted, or (v) the drawerinstructed the drawee not to pay or accept the draft or the drawee was notobligated to the drawer to pay the draft.

   (b) Notice of dishonor is excused if (i) by the terms of theinstrument notice of dishonor is not necessary to enforce the obligation of aparty to pay the instrument, or (ii) the party whose obligation is beingenforced waived notice of dishonor. A waiver of presentment is also a waiver ofnotice of dishonor.

   (c) Delay in giving notice of dishonor is excused if thedelay was caused by circumstances beyond the control of the person giving thenotice and the person giving the notice exercised reasonable diligence afterthe cause of the delay ceased to operate.