(1) Unless otherwise agreed, tender of payment is a condition to the seller's duty to tender and complete any delivery.
Tender of payment is sufficient when made by any means or in any manner currentin the ordinary course of business, unless the seller demands payment in legal tender and gives any extension of time reasonably necessary to procure it.
Subject to the provisions of this chapter on the effect of an instrument on an obligation (section 4-3-310), payment by check is conditional and is defeated as between the parties by dishonor of the check on due presentment.
(a) When livestock have been delivered under a transaction of purchase and on the accompanying brand inspection certificate or memorandum of brand inspection certificate the seller has conspicuously noted that payment of the consideration for the transaction has not been received, the seller shall send a certificate of payment stating that payment has been made either within ten days after receipt of a check drawn and payable within the United States or, in any other case, within three business days after payment has been made.
(b) Unless otherwise agreed, when payment has been made, the buyer shall have a specifically enforceable right to the unqualified certification of payment from the seller and, where the seller has failed to provide the certification of payment in accordance with the provisions of this subsection (4), the seller will be deemed to have failed to make delivery of the livestock.
Source: L. 65: p. 1326, § 1. C.R.S. 1963: § 155-2-511. L. 75: (4) added, p. 233, § 4, effective June 20. L. 94: (3) amended, p. 905, § 5, effective January 1, 1995.
Editor's note - Colorado legislative change: Colorado added subsection (4). There is no counterpart to subsection (4) in the uniform act.