{"data":{"id":"us-ny/n.y.-uniform-commercial-code-law-3-122","jurisdiction":"us-ny","citation":"N.Y. Uniform Commercial Code Law § 3-122","heading":"Accrual of Cause of Action","body":"Section 3--122. Accrual of Cause of Action.\n  (1) A cause of action against a maker or an acceptor accrues\n       (a) in the case of a time instrument on the day after maturity;\n       (b) in the case of a demand instrument upon its date or, if no\n           date is stated, on the date of issue.\n  (2) A cause of action against the obligor of a demand or time\ncertificate of deposit accrues upon demand, but demand on a time\ncertificate may not be made until on or after the date of maturity.\n  (3) A cause of action against a drawer of a draft or an indorser of\nany instrument accrues upon demand following dishonor of the instrument.\nNotice of dishonor is a demand.\n  (4) Unless an instrument provides otherwise, interest runs at the rate\nprovided by law for a judgment\n       (a) in the case of a maker, acceptor or other primary obligor of\n           a demand instrument, from the date of demand;\n       (b) in all other cases from the date of accrual of the cause of\n           action.","path":["Uniform Commercial Code Law","Article 3. Commercial Paper","Part 1. Short Title, Form and Interpretation"],"source_url":"https://legislation.nysenate.gov/api/3/laws/UCC/3-122","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"17577f3442be9dcb750e10bbbaec6e37c6a1eb8cdf88d406166c84fabffe259f","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-uniform-commercial-code-law-3-121","next":"us-ny/n.y.-uniform-commercial-code-law-3-201"},"notice":"GroundRules: Original legal text. Not legal advice."}