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After Notice of Dishonor Is Received, How Long Do Parties

Question 13

Multiple Choice

After notice of dishonor is received, how long do parties other than a collecting bank have in order to give notice of dishonor to a secondarily liable party?


A) It must be given before midnight of the next day.
B) It must be given within 48 hours.
C) It must be given within 7 days.
D) It must be given within 10 days.
E) It must be given within 30 days.

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