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84-3-501. Presentment. (a) "Presentment" means a demand made by or on behalf of a person entitled to enforce an instrument (1) to pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank, or (2) to accept a draft made to the drawee.

(b) The following rules are subject to article 4, agreement of the parties, and clearing-house rules and the like:

(1) Presentment may be made at the place of payment of the instrument and must be made at the place of payment if the instrument is payable at a bank in the United States; may be made by any commercially reasonable means, including an oral, written or electronic communication; is effective when the demand for payment or acceptance is received by the person to whom presentment is made; and is effective if made to any one of two or more makers, acceptors, drawees or other payors.

(2) Upon demand of the person to whom presentment is made, the person making presentment must (A) exhibit the instrument, (B) give reasonable identification and, if presentment is made on behalf of another person, reasonable evidence of authority to do so, and (C) sign a receipt on the instrument for any payment made or surrender the instrument if full payment is made.

(3) Without dishonoring the instrument, the party to whom presentment is made may (A) return the instrument for lack of a necessary endorsement, or (B) refuse payment or acceptance for failure of the presentment to comply with the terms of the instrument, an agreement of the parties, or other applicable law or rule.

(4) The party to whom presentment is made may treat presentment as occurring on the next business day after the day of representment if the party to whom presentment is made has established a cut-off hour not earlier than 2 p.m. for the receipt and processing of instruments presented for payment or acceptance and presentment is made after the cut-off hour.

History: L. 1991, ch. 296, § 58; February 1, 1992.

KANSAS COMMENT, 1996

This section is identical to the 1995 Official Text except that the lower case roman numerals in subsection (b) have been replaced by capital letters. This section is derived from the former 84-3-504 and 84-3-505. Historical case and statutory references can be obtained from the 1965 and 1983 bound volume 7 of the Kansas Statutes Annotated.

Presentment can be for payment or for acceptance (84-3-410) of a draft by the drawee. It is normally made at the obligor's place of business if the instrument does not specify otherwise. If demanded, the presenter must show identification and authority to enforce the instrument, and must give a receipt for partial payment or surrender the instrument for full payment. It is not a dishonor to refuse payment following an improper presentment. A presentment after business hours will be treated as a presentment the following business day, allowing additional time for the decision to honor or dishonor.

Failure to make tender on the due date will discharge indorsers and accommodation parties if the obligor was ready and able to pay the instrument. See 84-3-603(3).

Revisor's Note:

Former section 84-3-501 was repealed by L. 1991, ch. 296, § 111 and the number reassigned to the current text.


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