reglab/housing_qa huggingface dataset:
9 V.S.A. § 3-501
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 3 - Commercial Paper|§ 3-501. Presentment

§ 3-501. Presentment|(a) "Presentment" means a demand made by or on behalf of a person entitled to enforce an instrument (i) to pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank, or (ii) to accept a draft made to the drawee.(b) The following rules are subject to Article 4 of this title, agreement of the parties, and clearing-house rules and the like:  (1) Presentment may be made at the place of payment of the instrument and must be made at the place of payment if the instrument is payable at a bank in the United States; may be made by any commercially reasonable means, including an oral, written, or electronic communication; is effective when the demand for payment or acceptance is received by the person to whom presentment is made; and is effective if made to any one of two or more makers, acceptors, drawees, or other payors. (2) Upon demand of the person to whom presentment is made, the person making presentment must (i) exhibit the instrument, (ii) give reasonable identification and, if presentment is made on behalf of another person, reasonable evidence of authority to do so, and (iii) sign a receipt on the instrument for any payment made or surrender the instrument if full payment is made. (3) Without dishonoring the instrument, the party to whom presentment is made may (i) return the instrument for lack of a necessary indorsement, or (ii) refuse payment or acceptance for failure of the presentment to comply with the terms of the instrument, an agreement of the parties, or other applicable law or rule. (4) The party to whom presentment is made may treat presentment as occurring on the next business day after the day of presentment if the party to whom presentment is made has established a cut-off hour not earlier than 2 p.m. for the receipt and processing of instruments presented for payment or acceptance and presentment is made after the cut-off hour. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
9 V.S.A. § 3-503
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 3 - Commercial Paper|§ 3-503. Notice of dishonor

§ 3-503. Notice of dishonor|(a) The obligation of an indorser stated in section 3- 415(a) of this title and the obligation of a drawer stated in section 3- 414(d) of this title may not be enforced unless (i) the indorser or drawer is given notice of dishonor of the instrument complying with this section or (ii) notice of dishonor is excused under section 3- 504(b) of this title.(b) Notice of dishonor may be given by any person; may be given by any commercially reasonable means, including an oral, written, or electronic communication; and is sufficient if it reasonably identifies the instrument and indicates that the instrument has been dishonored or has not been paid or accepted. Return of an instrument given to a bank for collection is sufficient notice of dishonor.(c) Subject to section 3- 504(c) of this title, with respect to an instrument taken for collection by a collecting bank, notice of dishonor must be given (i) by the bank before midnight of the next banking day following the banking day on which the bank receives notice of dishonor of the instrument, or (ii) by any other person within 30 days following the day on which the person receives notice of dishonor. With respect to any other instrument, notice of dishonor must be given within 30 days following the day on which dishonor occurs. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
9 V.S.A. § 3-504
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 3 - Commercial Paper|§ 3-504. Excused presentment and notice of dishonor

§ 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 has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings, (iii) by the terms of the instrument presentment is not necessary to enforce the obligation of indorsers or the drawer, (iv) the drawer or indorser whose obligation is being enforced has waived presentment or otherwise has no reason to expect or right to require that the instrument be paid or accepted, or (v) the drawer instructed the drawee not to pay or accept the draft or the drawee was not obligated to the drawer to pay the draft.(b) Notice of dishonor is excused if (i) by the terms of the instrument notice of dishonor is not necessary to enforce the obligation of a party to pay the instrument, or (ii) the party whose obligation is being enforced waived notice of dishonor. A waiver of presentment is also a waiver of notice of dishonor.(c) Delay in giving notice of dishonor is excused if the delay was caused by circumstances beyond the control of the person giving the notice and the person giving the notice exercised reasonable diligence after the cause of the delay ceased to operate. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
9 V.S.A. § 3-505
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 3 - Commercial Paper|§ 3-505. Evidence of dishonor

§ 3-505. Evidence of dishonor|(a) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated:  (1) a document regular in form as provided in subsection (b) of this section which purports to be a protest; (2) a purported stamp or writing of the drawee, payor bank, or presenting bank on or accompanying the instrument stating that acceptance or payment has been refused unless reasons for the refusal are stated and the reasons are not consistent with dishonor; (3) a book or record of the drawee, payor bank, or collecting bank, kept in the usual course of business which shows dishonor, even if there is no evidence of who made the entry.   (b) A protest is a certificate of dishonor made by a United States consul or vice consul, or a notary public or other person authorized to administer oaths by the law of the place where dishonor occurs. It may be made upon information satisfactory to that person. The protest must identify the instrument and certify either that presentment has been made or, if not made, the reason why it was not made, and that the instrument has been dishonored by nonacceptance or nonpayment. The protest may also certify that notice of dishonor has been given to some or all parties. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
9 V.S.A. § 3-601
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 3 - Commercial Paper|§ 3-601. Discharge and effect of discharge

§ 3-601. Discharge and effect of discharge|(a) The obligation of a party to pay the instrument is discharged as stated in this article or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract.(b) Discharge of the obligation of a party is not effective against a person acquiring rights of a holder in due course of the instrument without notice of the discharge. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
9 V.S.A. § 3-602
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 3 - Commercial Paper|§ 3-602. Payment

§ 3-602. Payment|(a) Subject to subsection (b) of this section, an instrument is paid to the extent payment is made (i) by or on behalf of a party obliged to pay the instrument, and (ii) to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under section 3- 306 of this title by another person.(b) The obligation of a party to pay the instrument is not discharged under subsection (a) of this section if:  (1) a claim to the instrument under section 3- 306 of this title is enforceable against the party receiving payment and (i) payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction, or (ii) in the case of an instrument other than a cashier's check, teller's check, or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or (2) the person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
9 V.S.A. § 3-603
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 3 - Commercial Paper|§ 3-603. Tender of payment

§ 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 indorser 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. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
9 V.S.A. § 3-604
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 3 - Commercial Paper|§ 3-604. Discharge by cancellation or renunciation

§ 3-604. Discharge by cancellation or renunciation|(a) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument (i) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party's signature, or the addition of words to the instrument indicating discharge, or (ii) by agreeing not to sue or otherwise renouncing rights against the party by a signed writing.(b) Cancellation or striking out of an indorsement pursuant to subsection (a) does not affect the status and rights of a party derived from the indorsement. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
9 V.S.A. § 4-101
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-101. Short title

§ 4-101. Short title|This article may be cited as Uniform Commercial Code- Bank Deposits and Collections. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-102
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-102. Applicability

§ 4-102. Applicability|(a) To the extent that items within this article are also within Articles 3 and 8 of this title, they are subject to those articles. If there is conflict, this article governs Article 3, but Article 8 governs this article.(b) The liability of a bank for action or non-action with respect to an item handled by it for purposes of presentment, payment, or collection is governed by the law of the place where the bank is located. In the case of action or non-action by or at a branch or separate office of a bank, its liability is governed by the law of the place where the branch or separate office is located. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-103
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-103. Variation by agreement; measure of damages; action constituting ordinary care

§ 4-103. Variation by agreement; measure of damages; action constituting ordinary care|(a) The effect of the provisions of this article may be varied by agreement, but the parties to the agreement cannot disclaim a bank's responsibility for its lack of good faith or failure to exercise ordinary care or limit the measure of damages for the lack or failure. However, the parties may determine by agreement the standards by which the bank's responsibility is to be measured if those standards are not manifestly unreasonable.(b) Federal Reserve regulations and operating circulars, clearing-house rules, and the like, have the effect of agreements under subsection (a) of this section, whether or not specifically assented to by all parties interested in items handled.(c) Action or non-action approved by this article or pursuant to Federal Reserve regulations or operating circulars is the exercise of ordinary care and, in the absence of special instructions, action or non-action consistent with clearing-house rules and the like or with a general banking usage not disapproved by this article, is prima facie the exercise of ordinary care.(d) The specification or approval of certain procedures by this article is not disapproval of other procedures that may be reasonable under the circumstances.(e) The measure of damages for failure to exercise ordinary care in handling an item is the amount of the item reduced by an amount that could not have been realized by the exercise of ordinary care. If there is also bad faith it includes any other damages the party suffered as a proximate consequence. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-105
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-105. "Bank"; "depository bank"; "intermediary bank"; "collecting bank"; "payor bank"; "presenting bank"

§ 4-105. "Bank"; "depository bank"; "intermediary bank"; "collecting bank"; "payor bank"; "presenting bank"|In this article:  (1) "Bank" means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company; (2) "Depository bank" means the first bank to take an item even though it is also the payor bank, unless the item is presented for immediate payment over the counter; (3) "Payor bank" means a bank that is the drawee of a draft; (4) "Intermediary bank" means a bank to which an item is transferred in course of collection except the depositary or payor bank; (5) "Collecting bank" means a bank handling an item for collection except the payor bank; (6) "Presenting bank" means a bank presenting an item except a payor bank. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995; 2019, No. 131 (Adj. Sess.), § 11.)
9 V.S.A. § 4-106
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-106. Payable through or payable at bank; collecting bank

§ 4-106. Payable through or payable at bank; collecting bank|(a) If an item states that it is "payable through" a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.(b) If an item states that it is "payable at" a bank identified in the item, the item is equivalent to a draft drawn on the bank.(c) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank, the bank is a collecting bank. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-107
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-107. Separate office of bank

§ 4-107. Separate office of bank|A branch or separate office of a bank is a separate bank for the purpose of computing the time within which and determining the place at or to which action may be taken or notices or orders must be given under this article and under Article 3 of this title. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-108
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-108. Time of receipt of items

§ 4-108. Time of receipt of items|(a) For the purpose of allowing time to process items, prove balances, and make the necessary entries on its books to determine its position for the day, a bank may fix an afternoon hour of 2 p.m. or later as a cutoff hour for the handling of money and items and the making of entries on its books.(b) An item or deposit of money received on any day after a cutoff hour so fixed or after the close of the banking day may be treated as being received at the opening of the next banking day. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-109
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-109. Delays

§ 4-109. Delays|(a) Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank, and with or without the approval of any person involved, may waive, modify, or extend time limits imposed or permitted by this title for a period not exceeding two additional banking days without discharge of drawers or indorsers or liability to its transferor or a prior party.(b) Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this title or by instructions is excused if (i) the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment, or other circumstances beyond the control of the bank, and (ii) the bank exercises such diligence as the circumstances require. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-110
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-110. Electronic presentment

§ 4-110. Electronic presentment|(a) "Agreement for electronic presentment" means an agreement, clearing-house rule, or Federal Reserve regulation or operating circular, providing that presentment of an item may be made by transmission of an image of an item or information describing the item ("presentment notice") rather than delivery of the item itself. The agreement may provide for procedures governing retention, presentment, payment, dishonor, and other matters concerning items subject to the agreement.(b) Presentment of an item pursuant to an agreement for presentment is made when the presentment notice is received.(c) If presentment is made by presentment notice, a reference to "item" or "check" in this article means the presentment notice unless the context otherwise indicates. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-111
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-111. Statute of limitations

§ 4-111. Statute of limitations|An action to enforce an obligation, duty, or right arising under this article must be commenced within three years after the cause of action accrues. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-201
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-201. Status of collecting bank as agent and provisional status of credits; applicability of article; item indorsed "pay any bank"

§ 4-201. Status of collecting bank as agent and provisional status of credits; applicability of article; item indorsed "pay any bank"|(a) Unless a contrary intent clearly appears and before the time that a settlement given by a collecting bank for an item is or becomes final, the bank, with respect to the item, is an agent or sub-agent of the owner of the item and any settlement given for the item is provisional. This provision applies regardless of the form of indorsement or lack of indorsement and even though credit given for the item is subject to immediate withdrawal as of right or is in fact withdrawn; but the continuance of ownership of an item by its owner and any rights of the owner to proceeds of the item are subject to rights of a collecting bank, such as those resulting from outstanding advances on the item and rights of recoupment or setoff. If an item is handled by banks for purposes of presentment, payment, collection, or return, the relevant provisions of this article apply even though action of the parties clearly establishes that a particular bank has purchased the item and is the owner of it.(b) After an item has been indorsed with the words "pay any bank" or the like, only a bank may acquire the rights of a holder until the item has been:  (1) returned to the customer initiating collection; or (2) specially indorsed by a bank to a person who is not a bank. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-202
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-202. Responsibility for collection or return; when action timely

§ 4-202. Responsibility for collection or return; when action timely|(a) A collecting bank must exercise ordinary care in:  (1) presenting an item or sending it for presentment; (2) sending notice of dishonor or nonpayment or returning an item other than a documentary draft to the bank's transferor after learning that the item has not been paid or accepted, as the case may be; (3) settling for an item when the bank receives final settlement; and (4) notifying its transferor of any loss or delay in transit within a reasonable time after discovery thereof.   (b) A collecting bank exercises ordinary care under subsection (a) of this section by taking proper action before its midnight deadline following receipt of an item, notice, or settlement. Taking proper action within a reasonably longer time may constitute the exercise of ordinary care, but the bank has the burden of establishing timeliness.(c) Subject to subsection (a)(1)of this section, a bank is not liable for the insolvency, neglect, misconduct, mistake, or default of another bank or person or for loss or destruction of an item in the possession of others or in transit. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)
9 V.S.A. § 4-203
2021 Vermont Statutes|Title 9A - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|§ 4-203. Effect of instructions

§ 4-203. Effect of instructions|Subject to Article 3 of this title concerning conversion of instruments (§ 3- 420) and restrictive indorsements (§ 3- 206), only a collecting bank's transferor can give instructions that affect the bank or constitute notice to it, and a collecting bank is not liable to prior parties for any action taken pursuant to the instructions or in accordance with any agreement with its transferor. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)