Under Article 3 of the UCC,what is the effect of a note not stating a time for payment?
A) The note is void and unenforceable due to vagueness.
B) The note is considered nonnegotiable,but might nonetheless be enforceable.
C) The note is considered a time instrument with payment due at a reasonable time.
D) The note is considered a demand instrument with payment due on demand.
Correct Answer:
Verified
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