The Holder of a Promissory Note Fails to Present the Note

Multiple Choice

The holder of a promissory note fails to present the note to the maker for payment on the date on which it is due. What effect does this have on the liability for payment?

A) It requires court action in order to make the holder liable for payment.
B) It requires court action in order to hold previous indorsers liable for payment.
C) It releases the maker from liability for payment.
D) It releases indorsers from liability for payment.