Failure by the maker of a promissory note to pay the amount due at maturity is known as:

Question

Quizplus · Accepted Answer

Dishonouring a note refers to the failure to pay the amount due at maturity, which is a breach of the terms of the promissory note. Protesting a note refers to the act of formally recording the failure to pay and presenting it to the parties involved, while depreciating and discounting a note are unrelated concepts in accounting and finance. Closing a note is not a recognized term in this context.

Failure by the Maker of a Promissory Note to Pay