There is a newer version of the New Mexico Statutes
2013 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 1 - General Provisions
Part 2 - GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION
Section 55-1-205 - Reasonable time; seasonableness. (2005)
NM Stat § 55-1-205 (2013) What's This?
55-1-205. Reasonable time; seasonableness. (2005)
(a) Whether a time for taking an action required by the Uniform Commercial Code is reasonable depends on the nature, purpose and circumstances of the action.
(b) An action is taken seasonably if it is taken at or within the time agreed or, if no time is agreed, at or within a reasonable time.
History: 1953 Comp., § 50A-1-204, enacted by Laws 1961, ch. 96, § 1-204; 1978 Comp., § 55-1-204; recompiled by compiler as NMSA 1978, § 55-1-205; Laws 2005, ch. 144, § 13.
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