N.Y. U.C.C. 3-604

Section 3--604. Tender of Payment.\n (1) Any party making tender of full payment to a holder when or after\nit is due is discharged to the extent of all subsequent liability for\ninterest, costs and attorney's fees.\n (2) The holder's refusal of such tender wholly discharges any party\nwho has a right of recourse against the party making the tender.\n (3) Where the maker or acceptor of an instrument payable otherwise\nthan on demand is able and ready to pay at every place of payment\nspecified in the instrument when it is due, it is equivalent to tender.\n