Presentment occurs when the primary party refuses to pay an instrument according to its terms.

Name: Presentment occurs when the primary party refuses to pay an instrument according to its terms.
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Presentment refers to the act of formally presenting a financial instrument (such as a check or draft) to the party responsible for paying it, typically for the purpose of receiving payment, not specifically when there is a refusal to pay.

Presentment Occurs When the Primary Party Refuses to Pay an Instrument