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acceptance is duly made before the day the draft becomes payable
and the draft is not accepted on the day of presentment.
(4) If a draft is payable on elapse of a period of time after sight or
acceptance, the draft is dishonored if presentment for acceptance is
duly made and the draft is not accepted on the day of presentment.
(c) Dishonor of an unaccepted documentary draft occurs according to
the rules stated in subsection (b)(2), (3), and (4), except that payment
or acceptance may be delayed without dishonor until no later than the
close of the third business day of the drawee following the day on
which payment or acceptance is required by those paragraphs.
(d) Dishonor of an accepted draft is governed by the following rules:
(1) If the draft is payable on demand, the draft is dishonored if
presentment for payment is duly made to the acceptor and the draft is
not paid on the day of presentment.
(2) If the draft is not payable on demand, the draft is dishonored if
presentment for payment is duly made to the acceptor and payment is
not made on the day it becomes payable or the day of presentment,
whichever is later.
(e) In any case in which presentment is otherwise required for
dishonor under this section and presentment is excused under Section
3-504, dishonor occurs without presentment if the instrument is not
duly accepted or paid.
(f) If a draft is dishonored because timely acceptance of the draft was
not made and the person entitled to demand acceptance consents to a
late acceptance, from the time of acceptance the draft is treated as
never having been dishonored.
To further information of law found in the Uniform Commercial Code:
3-504. EXCUSED PRESENTMENT AND NOTICE OF
DISHONOR.
(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
Okiee, what was the question posed to Professor Levitin for those who choose not
to unseat then self:
How does (a)(2) apply?
11 U.S. Code 524 - Effect of discharge:
(a)
A
discharge
in
a
case
under
this
title
(1) voids any judgment at any time obtained, to the extent that
such judgment is a determination of the personal liability of the
debtor with respect to any debt discharged under section 727, 944,
1141, 1228, or 1328 of this title, whether or not discharge of such
debt
is
waived;
(2) operates as an injunction against the commencement or
continuation of an action, the employment of process, or an act, to
collect, recover or offset any such debt as a personal liability of the
debtor, whether or not discharge of such debt is waived; and
And for those who seek to see the response:
reporting a debt as unpaid but discharged isn't an "act to collect"
a debt.
Whereas it is routinely argued that the Note (negotiable instrument) evidences the
obligation (promise of payment) a question arise, does a filed Security Instrument
evidence an alternate (promise of payment) and does such attach to the Note or to
the Obligation?
What are the definitions and applicability of obligation, promise and to who is such
owed under discharge or non discharge, forget not to consider if the contracts are
in fact lawful.
Question presents, when a judges opines and note is not enforceable one should
inquire why a non bankruptcy judge discharged not only the obligation but for
reason found the negotiable instrument being WHAT???
Forest Gump stated in the movie, stupid is a stupid does, for those who arise from
their arse forget not they are those who will not all a party to get off their arse.