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2012 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 1-A: GENERAL PROVISIONS
11 §1-1205. Reasonable time; seasonableness


11 ME Rev Stat § 1-1205 (2012 through 125th Legis) What's This?

Part 2: GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION

§1-1205. Reasonable time; seasonableness

(1). 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.

[ 2009, c. 325, Pt. A, §2 (NEW); 2009, c. 325, Pt. A, §4 (AFF) .]

(2). 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.

[ 2009, c. 325, Pt. A, §2 (NEW); 2009, c. 325, Pt. A, §4 (AFF) .]

SECTION HISTORY

2009, c. 325, Pt. A, §2 (NEW). 2009, c. 325, Pt. A, §4 (AFF).

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