Gulf Bank receives a check drawn by Hayward. The check is re?ceived af?ter the established "cutoff" hour. Payment can be postponed without dishonor

Question

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The established "cutoff" hour refers to the time after which the bank's processing for the day has ended. In this case, Gulf Bank can postpone payment until the following business day without dishonor. Option A is incorrect as the postponement cannot be indefinite. Option B is also incorrect as there is a provision for postponement. Option C is not mentioned in the question.

Gulf Bank Receives a Check Drawn by Hayward