There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 55: Uniform Commercial Code
Article 2: Sales, 55-2-101 through 55-2-725
Section 55-2-511: Tender of payment by buyer; payment by check.
Universal Citation:
NM Stat § 55-2-511 (1996 through 1st Sess 50th Legis)
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55-2-511. Tender of payment by buyer; payment by check.
(1) Unless otherwise agreed tender of payment is a condition to the seller's duty to tender and complete any delivery.
(2) Tender of payment is sufficient when made by any means or in any manner current in the ordinary course of business unless the seller demands payment in legal tender and gives any extension of time necessary to procure it.
(3) Subject to provisions of the Uniform Commercial Code on the effect of an instrument on an obligation (Section 55-3-310 NMSA 1978), payment by check is conditional and is defeated as between the parties by dishonor of the check on due presentment.
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