According to the Uniform Commercial Code,if a demand instrument is a check,the check is overdue ________ after its date.
A)60 days
B)90 days
C)180 days
D)six months
E)one year

Question

Quizplus · Accepted Answer

A demand instrument,an instrument payable on demand,becomes overdue if it has been outstanding for an unreasonably long period of time after its date.According to Uniform Commercial Code Section 3-304(a)(2),if a demand instrument is a check,the check is overdue 90 days after its date.

According to the Uniform Commercial Code,if a Demand Instrument Is