{"id":13746,"date":"2018-02-12T15:44:04","date_gmt":"2018-02-12T15:44:04","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=13746"},"modified":"2018-03-12T02:11:57","modified_gmt":"2018-03-12T02:11:57","slug":"presentment-the-formal-production-of-a-negotiable-instrument-as-a-demand-for-acceptance-or-payment-made-on-the-maker-acceptor-drawee-or-other-payor-by-or-on-behalf-of-the-holder","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=13746","title":{"rendered":"presentment – the formal production of a negotiable instrument as a demand to “accept” or “pay” to the payor by or on behalf of the holder"},"content":{"rendered":"

\u00a0\u00a0\u00a0\u00a0 This page is continued from Legal Instruments<\/a> >>>> Negotiable Instruments<\/a> >>>> Related Terms<\/a>:
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presentment<\/span>:<\/span><\/strong><\/span><\/p>\n

1. The formal production of a\u00a0negotiable instrument<\/a> for acceptance or payment; especially, a demand for acceptance or payment made on the maker, acceptor, drawee, or other payor by or on behalf of the holder.<\/strong> \u2014 aka (in sense 3) presentation<\/strong><\/em><\/span>. [1]
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1. A demand to accept (presentment for acceptance<\/a>)<\/em> or to pay (presentment for payment<\/a>)<\/em> a negotiable instrument<\/a>, made to the drawee by a person, usually the payee or holder, entitled to enforce the instrument.<\/strong> [2]
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\u00a0\u00a0\u00a0\u00a0 Excerpt from James J. White & Robert S. Summers’ Uniform Commercial Code<\/em><\/a> (4th ed. 1995):<\/span><\/strong><\/p>\n

\u00a0\u00a0\u00a0\u00a0 \u201cPresentment and dishonor occur, for instance, when the holder of a check attempts to cash it at the drawee bank, but payment is refused because the drawer lacks sufficient funds on deposit.\u00a0 The demand for payment is presentment.\u00a0 The bank\u2019s refusal to pay is dishonor.<\/span>\u201d<\/strong> [3]<\/span><\/p>\n

presentment for acceptance<\/span><\/a> – production of a negotiable instrument, to the drawee, acceptor, or maker, for his acceptance and agreement to pay the bill, usually at some time in the future.<\/span><\/strong><\/p>\n

presentment for payment<\/span><\/a> –\u00a0 production of a negotiable instrument, by the holder, to the drawee, acceptor, or maker, on or after the date the instrument matures, to demand payment.<\/strong>
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References:<\/span><\/span><\/strong><\/p>\n

Disclaimer:<\/span><\/span><\/strong> All material throughout this website is compiled in accordance with Fair Use<\/a>.<\/span><\/strong><\/p>\n

[1]: Black’s Law Dictionary <\/a><\/span><\/strong>Deluxe<\/b><\/span><\/em> Tenth<\/b><\/span><\/em> Edition<\/b><\/span><\/em><\/a> by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4 <\/span><\/strong><\/p>\n

[2]:\u00a0\u00a0Ballantine\u2019s Law Dictionary <\/a>Legal<\/b><\/em> Assistant<\/b><\/em> Edition<\/b><\/em><\/a>
\nby Jack Ballantine\u00a0(James Arthur 1871-1949).\u00a0\u00a0<\/em>Doctored<\/a>\u00a0<\/em>by\u00a0Jack G. Handler,\u00a0J.D.<\/a>\u00a0\u00a9 1994 Delmar by Thomson Learning.\u00a0 ISBN 0-8273-4874-6.<\/span><\/strong>
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[3]: 2 James J. White & Robert S. Summers, Uniform Commercial Code<\/em><\/a> 5 16-8, at 100 (4th ed. 1995).<\/span><\/strong><\/p>\n

[4]: Ballantine\u2019s Law <\/a><\/strong>Dictionary\u00a0<\/b><\/strong><\/a>with<\/b><\/em> Pronunciations<\/b><\/em> Third Edition<\/strong><\/a>\u00a0by James A. Ballantine\u00a0<\/strong>(James Arthur 1871-1949).\u00a0\u00a0<\/em>Edited by William S. Anderson.\u00a0\u00a0\u00a9 1969 by THE LAWYER\u2019S CO-OPERATIVE PUBLISHING COMPANY.\u00a0 Library of Congress Catalog Card No. 68-30931<\/strong><\/span><\/p>\n

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