Multiple Choice
Dishonor of an instrument involves which of the following?
A) A demand note is dishonored if the maker does not pay it on the day of presentment.
B) An accepted demand draft is dishonored if the drawer does not pay it on the day of presentment.
C) If a check is presented for payment directly to the payor/drawee bank for immediate payment, a refusal to pay the check within seven business days of presentment constitutes dishonor.
D) All of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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