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Minnesota Legislature

Office of the Revisor of Statutes

336.3-603 MS 1990 [Repealed, 1992 c 565 s 114]
336.3-603 TENDER OF PAYMENT.
(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 an instrument is made to a person entitled to
enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of
the tender, of the obligation of an endorser or accommodation party having a right of recourse
with respect to the obligation to which the tender relates.
(c) If tender of payment of an amount due on an instrument is made to a person entitled to
enforce the instrument, the obligation of the obligor to pay interest after the due date on the
amount tendered is discharged. If presentment is required with respect to an instrument and the
obligor is able and ready to pay on the due date at every place of payment stated in the instrument,
the obligor is deemed to have made tender of payment on the due date to the person entitled
to enforce the instrument.
History: 1992 c 565 s 68