New Jersey § 12a:3-501

§ 12a:3-501.

a. “Presentment” means a demand made by or on behalf of a person entitled to enforce

an instrument 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 to accept a draft made to the drawee. b. The following rules are subject to chapter 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 exhibit the instrument, give reasonable identification and, if presentment is

made on behalf of another person, reasonable evidence of authority to do so, and 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

return the instrument for lack of a necessary indorsement, or 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 presentment 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.