Colorado Code
Part 5 - Performance
§ 4-2-511. Tender of Payment by Buyer; Payment by Check; Certification of Payment in Livestock Transactions

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.
Prior Uniform Statutory Provision: Section 42, Uniform Sales Act.
Changes: Rewritten by this section and Section 2-507.
Purposes of Changes:

In the case of specific transactions such as C.O.D. sales or agreements providing for payment against documents, the provisions of this subsection must be considered in conjunction with the special sections of the Article dealing with such terms. The provision that tender of payment is a condition to the seller's duty to tender and complete "any delivery" integrates this section with the language and policy of the section on delivery in several lots which call for separate payment. Finally, attention should be directed to the provision on right to adequate assurance of performance which recognizes, even before the time for tender, an obligation on the buyer not to impair the seller's expectation of receiving payment in due course.
The phrase "by check" includes not only the buyer's own but any check which does not effect a discharge under Article 3 (Section 3-802). Similarly the reason of this subsection should apply and the same result should be reached where the buyer "pays" by sight draft on a commercial firm which is financing him.
Cross References:
Point 1: Sections 4-2-307, 4-2-310, 4-2-320, 4-2-325, 4-2-503, 4-2-513 and 4-2-609.
Point 2: Sections 4-2-307, 4-2-310, 4-2-319, 4-2-322, 4-2-503, 4-2-504 and 4-2-513.
Point 3: Section 4-2-614.
Point 5: Article 3, esp. Sections 3-802 and 4-3-411.
Point 6: Sections 4-2-507, 4-2-702, and Article 3.
Definitional Cross References:
"Buyer". Section 4-2-103.
"Check". Section 4-3-104.
"Dishonor". Section 4-3-502.
"Party". Section 4-1-201.
"Reasonable time". Section 4-1-204.
"Seller". Section 4-2-103.