Which of the following is assumed by the UCC if an instrument is silent as to the time of payment?
A) That it is a demand instrument
B) That it is a time instrument
C) That it is a void instrument
D) That it is a voidable instrument
E) That it is a nonnegotiable instrument

Question

Quizplus · Accepted Answer

If an instrument does not specify a time of payment, the Uniform Commercial Code (UCC) assumes it is a demand instrument, meaning it is payable at the will of the holder or upon demand.

Which of the Following Is Assumed by the UCC If