Eton executes a preprinted promissory note to First Bank without filling in the due date. The bank does not complete the form by adding the date. The note is
A)not payable.
B)payable on demand.
C)payable thirty days after issue.
D)payable at the election of the maker.

Question

Quizplus · Accepted Answer

When a promissory note is executed without specifying a due date, it is considered payable on demand according to the Uniform Commercial Code (UCC).

Eton Executes a Preprinted Promissory Note to First Bank Without