Vermont § 504 - § 3—504.
Full text of Vermont Vermont Statutes Online § 504 — § 3—504., with citation guidance and answers to common questions.
§ 504. § 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.)
Frequently Asked Questions About Vermont § 504
What does Vermont Statutes Online § 504 cover?
Section 504 ("§ 3—504.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 504?
A common citation format is "Vermont Statutes Online § 504" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 504 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.