election of place of payment

election of place of payment
The right of the holder of a note, payable, by its terms, at any one of several places, to choose the particular place at which payment shall be made. Also, the right of the maker of such note to choose the place of payment, once he has called upon the holder to elect and the holder has failed to elect. 11 Am J2d B & N § 972.

Ballentine's law dictionary. . 1998.

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