Violations of the Requirements of a Note That Do Not

Multiple Choice

Violations of the requirements of a note that do not disrupt the payments on the loan tend to be viewed as "technical" defaults. In practice, how many days must a payment be overdue in order for lenders to treat a default as serious (i.e., a substantive default) ?

A) One day
B) 30 days
C) 60 days
D) 90 days