Secure Loan Company has notice that a promissory note is overdue if the note is a demand instrument and Secure Loan takes it
A) an unreasonable time after its due date.
B) before its due date.
C) on its due date.
D) without noticing its due date.

Question

Secure Loan Company has notice that a promissory note is overdue if the note is a demand instrument and Secure Loan takes it​
A) ​an unreasonable time after its due date.
B) ​before its due date.
C) ​on its due date.
D) ​without noticing its due date.

Quizplus · Accepted Answer

A promissory note that is a demand instrument does not have a specific due date, but it is considered overdue if the creditor takes an unreasonable amount of time after demanding payment. Therefore, the best choice is A.

Secure Loan Company Has Notice That a Promissory Note Is