Time paper that states it is due on July 1, a Sunday, is overdue on:
A)July 1.
B)July 2.
C)July 3.
D)It depends upon when the instrument is presented for payment.

Question

Quizplus · Accepted Answer

A paper that is due on July 1 is considered overdue on July 2 because July 1 is a Sunday and most businesses and institutions are closed on Sundays. Therefore, the next business day is considered the due date.

Time Paper That States It Is Due on July 1