C.R.S. Section 4-3-311
Accord and satisfaction by use of instrument

(a)

If a person against whom a claim is asserted proves that (i) that person in good faith tendered an instrument to the claimant as full satisfaction of the claim, (ii) the amount of the claim was unliquidated or subject to a bona fide dispute, and (iii) the claimant obtained payment of the instrument, the following subsections apply.

(b)

Unless subsection (c) of this section applies, the claim is discharged if the person against whom the claim is asserted proves that the instrument or an accompanying written communication contained a conspicuous statement to the effect that the instrument was tendered as full satisfaction of the claim.

(c)

Subject to subsection (d) of this section, a claim is not discharged under subsection (b) of this section if either of the following applies:

(1)

The claimant, if an organization, proves that (i) within a reasonable time before the tender, the claimant sent a conspicuous statement to the person against whom the claim is asserted that communications concerning disputed debts, including an instrument tendered as full satisfaction of a debt, are to be sent to a designated person, office, or place, and (ii) the instrument or accompanying communication was not received by that designated person, office, or place.

(2)

The claimant, whether or not an organization, proves that within ninety days after payment of the instrument, the claimant tendered repayment of the amount of the instrument to the person against whom the claim is asserted. This paragraph (2) does not apply if the claimant is an organization that sent a statement complying with paragraph (1)(i) of this subsection (c).

(d)

A claim is discharged if the person against whom the claim is asserted proves that within a reasonable time before collection of the instrument was initiated, the claimant, or an agent of the claimant having direct responsibility with respect to the disputed obligation, knew that the instrument was tendered in full satisfaction of the claim.

Source: Section 4-3-311 — Accord and satisfaction by use of instrument, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-04.­pdf (accessed Oct. 20, 2023).

4‑3‑101
Short title 4‑3‑102
Subject matter 4‑3‑103
Definitions 4‑3‑104
Negotiable instrument 4‑3‑105
Issue of instrument 4‑3‑106
Unconditional promise or order 4‑3‑107
Instrument payable in foreign money 4‑3‑108
Payable on demand or at definite time 4‑3‑109
Payable to bearer or to order 4‑3‑110
Identification of person to whom instrument is payable 4‑3‑111
Place of payment 4‑3‑112
Interest 4‑3‑113
Date of instrument 4‑3‑114
Contradictory terms of instrument 4‑3‑115
Incomplete instrument 4‑3‑116
Joint and several liability 4‑3‑117
Other agreements affecting instrument 4‑3‑118
Statute of limitations 4‑3‑119
Notice of right to defend action 4‑3‑201
Negotiation 4‑3‑202
Negotiation subject to rescission 4‑3‑203
Transfer of instrument 4‑3‑204
Indorsement 4‑3‑205
Special indorsement 4‑3‑206
Restrictive indorsement 4‑3‑207
Reacquisition 4‑3‑301
Person entitled to enforce instrument 4‑3‑302
Holder in due course 4‑3‑303
Value and consideration 4‑3‑304
Overdue instrument 4‑3‑305
Defenses and claims in recoupment 4‑3‑306
Claims to an instrument 4‑3‑307
Notice of breach of fiduciary duty 4‑3‑308
Proof of signatures and status as holder in due course 4‑3‑309
Enforcement of lost, destroyed, or stolen instrument 4‑3‑310
Effect of instrument on obligation for which taken 4‑3‑311
Accord and satisfaction by use of instrument 4‑3‑312
Lost, destroyed, or stolen cashier’s check, teller’s check, or certified check 4‑3‑401
Signature necessary for liability on instrument 4‑3‑402
Signature by representative 4‑3‑403
Unauthorized signature 4‑3‑404
Impostors 4‑3‑405
Employer’s responsibility for fraudulent indorsement by employee 4‑3‑406
Negligence contributing to forged signature or alteration of instrument 4‑3‑407
Alteration 4‑3‑408
Drawee not liable on unaccepted draft 4‑3‑409
Acceptance of draft 4‑3‑410
Acceptance of varying draft 4‑3‑411
Refusal to pay cashier’s checks, teller’s checks, and certified checks 4‑3‑412
Obligation of issuer of note or cashier’s check 4‑3‑413
Obligation of acceptor 4‑3‑414
Obligation of drawer 4‑3‑415
Obligation of indorser 4‑3‑416
Transfer warranties 4‑3‑417
Presentment warranties 4‑3‑418
Payment or acceptance by mistake 4‑3‑419
Instruments signed for accommodation 4‑3‑420
Conversion of instrument 4‑3‑501
Presentment 4‑3‑502
Dishonor 4‑3‑503
Notice of dishonor 4‑3‑504
Excused presentment and notice of dishonor 4‑3‑505
Evidence of dishonor 4‑3‑506
Recording credit card or social security numbers prohibited 4‑3‑601
Discharge and effect of discharge 4‑3‑602
Payment 4‑3‑603
Tender of payment 4‑3‑604
Discharge by cancellation or renunciation 4‑3‑605
Discharge of indorsers and accommodation parties
Green check means up to date. Up to date

Current through Fall 2024

§ 4-3-311’s source at colorado​.gov