There is a newer version
of
the New York Laws
2021 New York Laws
UCC - Uniform Commercial Code
Article 3 - Commercial Paper
Part 6 - Discharge
3-604 - Tender of Payment.
Universal Citation: NY UCC § 3-604 (2021)
Section 3--604. Tender of Payment.(1) Any party making tender of full payment to a holder when or after it is due is discharged to the extent of all subsequent liability for interest, costs and attorney's fees.
(2) The holder's refusal of such tender wholly discharges any party who has a right of recourse against the party making the tender.
(3) Where the maker or acceptor of an instrument payable otherwise than on demand is able and ready to pay at every place of payment specified in the instrument when it is due, it is equivalent to tender.
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