The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
47-3504 - Excused presentment and notice of dishonor
47-3504. Excused presentment and notice of dishonor
A. Presentment for payment or acceptance of an instrument is excused if:
1. The person entitled to present the instrument cannot with reasonable diligence make presentment;
2. The maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings;
3. By the terms of the instrument presentment is not necessary to enforce the obligation of indorsers or the drawer;
4. The drawer or indorser whose obligation is being enforced has waived presentment or otherwise has no reason to expect or right to require that the instrument be paid or accepted; or
5. The drawer instructed the drawee not to pay or accept the draft or the drawee was not obligated to the drawer to pay the draft.
B. Notice of dishonor is excused if by the terms of the instrument notice of dishonor is not necessary to enforce the obligation of a party to pay the instrument or the party whose obligation is being enforced waived notice of dishonor. A waiver of presentment is also a waiver of notice of dishonor.
C. Delay in giving notice of dishonor is excused if the delay was caused by circumstances beyond the control of the person giving the notice and the person giving the notice exercised reasonable diligence after the cause of the delay ceased to operate.