N.Y. Uniform Commercial Code Law § 3-604: Tender of Payment

Section 3--604. Tender of Payment.

(1) Any party making tender of full payment to a holder when or after

it is due is discharged to the extent of all subsequent liability for

interest, costs and attorney's fees.

(2) The holder's refusal of such tender wholly discharges any party

who has a right of recourse against the party making the tender.

(3) Where the maker or acceptor of an instrument payable otherwise

than on demand is able and ready to pay at every place of payment

specified in the instrument when it is due, it is equivalent to tender.