On May 1,Emile Bought a Widget from Megan

Multiple Choice

On May 1,Emile bought a widget from Megan.The price was $15 000.On June 1,Emile paid that price by giving Megan a bill of exchange that was drawn on the Bank of Swift Current.The bill was stated to be payable "on demand." Which of the following statements is TRUE?

A) Because the bill is payable on sight,Megan cannot present it to the Bank of Swift Current for acceptance
B) If Megan presents the bill to the Bank of Swift Current on July 1,she is entitled to receive $15 000 immediately.
C) The bill is invalid because while a promissory note can be payable on sight,a bill cannot.
D) Unlike certification of a cheque,acceptance of a bill would not create rights that Megan could use against the Bank of Swift Current.
E) The reason that the bill is considered to be payable "on sight" is that it was created some time after Emile and Megan created their sales contract.