Multiple Choice
The deadline for a bank to dishonor an item received on a particular day is:
A) midnight of the next banking day, except for "on us" items, for which the deadline is midnight of the same banking day.
B) midnight of the next banking day, except for "on us" items, for which the deadline is midnight of the second banking day.
C) midnight of the next banking day, except for "on us" items, for which the deadline is the open of business on the second banking day.
D) midnight of the next banking day, except for "on them" items, for which the deadline is midnight of the second banking day.
E) midnight of the third banking day, except for "on them" items, for which the deadline is midnight of the fourth banking day.
Correct Answer:
Verified
Correct Answer:
Verified
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