Title 57A — UNIFORM COMMERCIAL CODE
16 chapters · 675 sections in this title.
SDCL § 57A-3-418 Payment or acceptance by mistake
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(a) Except as provided in subsection (c), if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that (i) payment of the draft had not been stopped pursuant to § 57A-4-403 or (ii) the signature of the drawer of the draft was authorized, the…
SDCL § 57A-3-419 Instruments signed for accommodation
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(a) If an instrument is issued for value given for the benefit of a party to the instrument ("accommodated party") and another party to the instrument ("accommodation party") signs the instrument for the purpose of incurring liability on the instrument without being a direct bene…
SDCL § 57A-3-420 Conversion of instrument
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(a) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other than a negotiation, from a person not entitled to enforce the instrument or a bank makes or obtains payment with respect to the inst…
Collection costs and expenses--Liability of issuer of dishonored check
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If a merchant or place of business conspicuously posts a notice on its premises or if a merchant or place of business regularly extends credit and prints a notice on its customer statements of such size and location as to be conspicuous, stating that a fee will be assessed agains…
SDCL § 57A-3-422 Circumstances under which issuer of dishonored check liable--Reasonable costs and expenses
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Any person who issues a check or other draft to the state or any of its political subdivisions that is not honored for any of the following reasons upon presentation is liable for all reasonable costs and expenses of collection: (1) The drawer's account is closed; (2) The drawer'…
SDCL § 57A-3-501 Presentment
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(a) "Presentment" means a demand made by or on behalf of a person entitled to enforce an instrument (i) to pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank, or (ii) to accept …
Dishonor
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(a) Dishonor of a note is governed by the following rules: (1) If the note is payable on demand, the note is dishonored if presentment is duly made to the maker and the note is not paid on the day of presentment. (2) If the note is not payable on demand and is payable at or throu…
SDCL § 57A-3-503 Notice of dishonor
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(a) The obligation of an indorser stated in § 57A-3-415(a) and the obligation of a drawer stated in § 57A-3-414(d) may not be enforced unless (i) the indorser or drawer is given notice of dishonor of the instrument complying with this section or (ii) notice of dishonor is excused…
SDCL § 57A-3-504 Excused presentment and notice of dishonor
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(a) Presentment for payment or acceptance of an instrument is excused if (i) the person entitled to present the instrument cannot with reasonable diligence make presentment, (ii) the maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency …
SDCL § 57A-3-505 Evidence of dishonor
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(a) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated: (1) A document regular in form as provided in subsection (b) which purports to be a protest; (2) A purported stamp or writing of the drawee, payor bank, or pres…
SDCL § 57A-3-601 Discharge and effect of discharge
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(a) The obligation of a party to pay the instrument is discharged as stated in this article or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract. (b) Discharge of the obligation of a party is not effective against a per…
SDCL § 57A-3-602 Payment
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(a) Subject to subsection (b), an instrument is paid to the extent payment is made (i) by or on behalf of a party obliged to pay the instrument, and (ii) to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the i…
SDCL § 57A-3-603 Tender of payment
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(a) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract. (b) If tender of payment of an obligation to pay a…
SDCL § 57A-3-604 Discharge by cancellation or renunciation
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(a) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument (i) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the inst…
SDCL § 57A-3-605 Discharge of indorsers and accommodation parties
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(a) In this section, the term "indorser" includes a drawer having the obligation described in § 57A-3-414(d). (b) Discharge, under § 57A-3-604 , of the obligation of a party to pay an instrument does not discharge the obligation of an indorser or accommodation party having a righ…