KRS 355.2-511

Tender of payment by buyer -- Payment by check

Known as the Uniform Commercial Code

The act spans §§ 355.10-101 to 355.9-809 (686 sections).

Applied in 1 court decision — leading case 477 F. Supp. 2d 670 - Rimmax Wheels LLC v. RC Components, Inc. (2007)

Most recently applied in 477 F. Supp. 2d 670 - Rimmax Wheels LLC v. RC Components, Inc. (February 2007)

Effective: January 1, 1997 History: Amended 1996 Ky

(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 reasonably necessary to procure it.

(3) Subject to the provisions of this chapter on the effect of an instrument on an obligation (KRS 355.3-310), payment by check is conditional and is defeated as between the parties by dishonor of the check on due presentment.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.