2005 Idaho Code - 28-3-304 — OVERDUE INSTRUMENT

                                  TITLE  28
                           COMMERCIAL TRANSACTIONS
                                  CHAPTER 3
                          UNIFORM COMMERCIAL CODE --
                            NEGOTIABLE INSTRUMENTS
                                   PART 3.
                          ENFORCEMENT OF INSTRUMENTS
    28-3-304.  OVERDUE INSTRUMENT. (1) An instrument payable on demand becomes
overdue at the earliest of the following times:
    (a)  On the day after the day demand for payment is duly made;
    (b)  If the instrument is a check, ninety (90) days after its date; or
    (c)  If the instrument is not a check, when the instrument has been
    outstanding for a period of time after its date which is unreasonably long
    under the circumstances of the particular case in light of the nature of
    the instrument and usage of the trade.
    (2)  With respect to an instrument payable at a definite time the
following rules apply:
    (a)  If the principal is payable in installments and a due date has not
    been accelerated, the instrument becomes overdue upon default under the
    instrument for nonpayment of an installment, and the instrument remains
    overdue until the default is cured.
    (b)  If the principal is not payable in installments and the due date has
    not been accelerated, the instrument becomes overdue on the day after the
    due date.
    (c)  If a due date with respect to principal has been accelerated, the
    instrument becomes overdue on the day after the accelerated due date.
    (3)  Unless the due date of principal has been accelerated, an instrument
does not become overdue if there is default in payment of interest but no
default in payment of principal.