2017 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 2 - Sales
Part 5 - PERFORMANCE
Section 55-2-511 - Tender of payment by buyer; payment by check.

Universal Citation: NM Stat § 55-2-511 (2017)

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.

History: 1953 Comp., 50A-2-511, enacted by Laws 1961, ch. 96, 2-511; 1992, ch. 114, 7.

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