(a) Dishonor of a noteis governed by the following rules:
(1) If the note ispayable on demand, the note is dishonored if presentment is duly made to themaker and the note is not paid on the day of presentment.
(2) If the note is notpayable on demand and is payable at or through a bank or the terms of the noterequire presentment, the note is dishonored if presentment is duly made and thenote is not paid on the day it becomes payable or the day of presentment,whichever is later.
(3) If the note is notpayable on demand and subdivision (2) does not apply, the note is dishonored ifit is not paid on the day it becomes payable.
(b) Dishonor of anunaccepted draft other than a documentary draft is governed by the followingrules:
(1) If a check is dulypresented for payment to the payor bank otherwise than for immediate paymentover the counter, the check is dishonored if the payor bank makes timely returnof the check or sends timely notice of dishonor or nonpayment under G.S. 25‑4‑301or G.S. 25‑4‑302, or becomes accountable for the amount of thecheck under G.S. 25‑4‑302.
(2) If a draft ispayable on demand and subdivision (1) does not apply, the draft is dishonoredif presentment for payment is duly made to the drawee and the draft is not paidon the day of presentment.
(3) If a draft ispayable on a date stated in the draft, the draft is dishonored if (i)presentment for payment is duly made to the drawee and payment is not made onthe day the draft becomes payable or the day of presentment, whichever islater, or (ii) presentment for acceptance is duly made before the day the draftbecomes payable and the draft is not accepted on the day of presentment.
(4) If a draft ispayable on elapse of a period of time after sight or acceptance, the draft isdishonored if presentment for acceptance is duly made and the draft is notaccepted on the day of presentment.
(c) Dishonor of anunaccepted documentary draft occurs according to the rules stated insubdivisions (2), (3), and (4) of subsection (b), except that payment oracceptance may be delayed without dishonor until no later than the close of thethird business day of the drawee following the day on which payment oracceptance is required by those subdivisions.
(d) Dishonor of anaccepted draft is governed by the following rules:
(1) If the draft ispayable on demand, the draft is dishonored if presentment for payment is dulymade to the acceptor and the draft is not paid on the day of presentment.
(2) If the draft is notpayable on demand, the draft is dishonored if presentment for payment is dulymade to the acceptor and payment is not made on the day it becomes payable orthe day of presentment, whichever is later.
(e) In any case inwhich presentment is otherwise required for dishonor under this section andpresentment is excused under G.S. 25‑3‑504, dishonor occurs withoutpresentment if the instrument is not duly accepted or paid.
(f) If a draft isdishonored because timely acceptance of the draft was not made and the personentitled to demand acceptance consents to a late acceptance, from the time ofacceptance the draft is treated as never having been dishonored. (1899,c. 733, ss. 70, 79 to 82, 83, 89, 109 to 116, 118, 129, 130, 143, 144, 147 to153, 158, 159, 186; Rev., ss. 2219, 2228 to 2232, 2239, 2259 to 2266, 2268,2279, 2280, 2293, 2294, 2297 to 2303, 2309, 2336; C.S., ss. 3051, 3060 to 3064,3071, 3091 to 3098, 3100, 3111, 3112, 3125, 3126, 3129 to 3135, 3140, 3141,3168; 1965, c. 700, s. 1; 1967, c. 562, s. 1; 1995, c. 232, s. 1.)
(a) Dishonor of a noteis governed by the following rules:
(1) If the note ispayable on demand, the note is dishonored if presentment is duly made to themaker and the note is not paid on the day of presentment.
(2) If the note is notpayable on demand and is payable at or through a bank or the terms of the noterequire presentment, the note is dishonored if presentment is duly made and thenote is not paid on the day it becomes payable or the day of presentment,whichever is later.
(3) If the note is notpayable on demand and subdivision (2) does not apply, the note is dishonored ifit is not paid on the day it becomes payable.
(b) Dishonor of anunaccepted draft other than a documentary draft is governed by the followingrules:
(1) If a check is dulypresented for payment to the payor bank otherwise than for immediate paymentover the counter, the check is dishonored if the payor bank makes timely returnof the check or sends timely notice of dishonor or nonpayment under G.S. 25‑4‑301or G.S. 25‑4‑302, or becomes accountable for the amount of thecheck under G.S. 25‑4‑302.
(2) If a draft ispayable on demand and subdivision (1) does not apply, the draft is dishonoredif presentment for payment is duly made to the drawee and the draft is not paidon the day of presentment.
(3) If a draft ispayable on a date stated in the draft, the draft is dishonored if (i)presentment for payment is duly made to the drawee and payment is not made onthe day the draft becomes payable or the day of presentment, whichever islater, or (ii) presentment for acceptance is duly made before the day the draftbecomes payable and the draft is not accepted on the day of presentment.
(4) If a draft ispayable on elapse of a period of time after sight or acceptance, the draft isdishonored if presentment for acceptance is duly made and the draft is notaccepted on the day of presentment.
(c) Dishonor of anunaccepted documentary draft occurs according to the rules stated insubdivisions (2), (3), and (4) of subsection (b), except that payment oracceptance may be delayed without dishonor until no later than the close of thethird business day of the drawee following the day on which payment oracceptance is required by those subdivisions.
(d) Dishonor of anaccepted draft is governed by the following rules:
(1) If the draft ispayable on demand, the draft is dishonored if presentment for payment is dulymade to the acceptor and the draft is not paid on the day of presentment.
(2) If the draft is notpayable on demand, the draft is dishonored if presentment for payment is dulymade to the acceptor and payment is not made on the day it becomes payable orthe day of presentment, whichever is later.
(e) In any case inwhich presentment is otherwise required for dishonor under this section andpresentment is excused under G.S. 25‑3‑504, dishonor occurs withoutpresentment if the instrument is not duly accepted or paid.
(f) If a draft isdishonored because timely acceptance of the draft was not made and the personentitled to demand acceptance consents to a late acceptance, from the time ofacceptance the draft is treated as never having been dishonored. (1899,c. 733, ss. 70, 79 to 82, 83, 89, 109 to 116, 118, 129, 130, 143, 144, 147 to153, 158, 159, 186; Rev., ss. 2219, 2228 to 2232, 2239, 2259 to 2266, 2268,2279, 2280, 2293, 2294, 2297 to 2303, 2309, 2336; C.S., ss. 3051, 3060 to 3064,3071, 3091 to 3098, 3100, 3111, 3112, 3125, 3126, 3129 to 3135, 3140, 3141,3168; 1965, c. 700, s. 1; 1967, c. 562, s. 1; 1995, c. 232, s. 1.)
(a) Dishonor of a noteis governed by the following rules:
(1) If the note ispayable on demand, the note is dishonored if presentment is duly made to themaker and the note is not paid on the day of presentment.
(2) If the note is notpayable on demand and is payable at or through a bank or the terms of the noterequire presentment, the note is dishonored if presentment is duly made and thenote is not paid on the day it becomes payable or the day of presentment,whichever is later.
(3) If the note is notpayable on demand and subdivision (2) does not apply, the note is dishonored ifit is not paid on the day it becomes payable.
(b) Dishonor of anunaccepted draft other than a documentary draft is governed by the followingrules:
(1) If a check is dulypresented for payment to the payor bank otherwise than for immediate paymentover the counter, the check is dishonored if the payor bank makes timely returnof the check or sends timely notice of dishonor or nonpayment under G.S. 25‑4‑301or G.S. 25‑4‑302, or becomes accountable for the amount of thecheck under G.S. 25‑4‑302.
(2) If a draft ispayable on demand and subdivision (1) does not apply, the draft is dishonoredif presentment for payment is duly made to the drawee and the draft is not paidon the day of presentment.
(3) If a draft ispayable on a date stated in the draft, the draft is dishonored if (i)presentment for payment is duly made to the drawee and payment is not made onthe day the draft becomes payable or the day of presentment, whichever islater, or (ii) presentment for acceptance is duly made before the day the draftbecomes payable and the draft is not accepted on the day of presentment.
(4) If a draft ispayable on elapse of a period of time after sight or acceptance, the draft isdishonored if presentment for acceptance is duly made and the draft is notaccepted on the day of presentment.
(c) Dishonor of anunaccepted documentary draft occurs according to the rules stated insubdivisions (2), (3), and (4) of subsection (b), except that payment oracceptance may be delayed without dishonor until no later than the close of thethird business day of the drawee following the day on which payment oracceptance is required by those subdivisions.
(d) Dishonor of anaccepted draft is governed by the following rules:
(1) If the draft ispayable on demand, the draft is dishonored if presentment for payment is dulymade to the acceptor and the draft is not paid on the day of presentment.
(2) If the draft is notpayable on demand, the draft is dishonored if presentment for payment is dulymade to the acceptor and payment is not made on the day it becomes payable orthe day of presentment, whichever is later.
(e) In any case inwhich presentment is otherwise required for dishonor under this section andpresentment is excused under G.S. 25‑3‑504, dishonor occurs withoutpresentment if the instrument is not duly accepted or paid.
(f) If a draft isdishonored because timely acceptance of the draft was not made and the personentitled to demand acceptance consents to a late acceptance, from the time ofacceptance the draft is treated as never having been dishonored. (1899,c. 733, ss. 70, 79 to 82, 83, 89, 109 to 116, 118, 129, 130, 143, 144, 147 to153, 158, 159, 186; Rev., ss. 2219, 2228 to 2232, 2239, 2259 to 2266, 2268,2279, 2280, 2293, 2294, 2297 to 2303, 2309, 2336; C.S., ss. 3051, 3060 to 3064,3071, 3091 to 3098, 3100, 3111, 3112, 3125, 3126, 3129 to 3135, 3140, 3141,3168; 1965, c. 700, s. 1; 1967, c. 562, s. 1; 1995, c. 232, s. 1.)
