Which of the following is true regarding payment on a time instrument?
A)It may be made payable at a past or future date so long as the method of computing interest is set forth either in the time instrument itself or in a separate document prepared in conjunction with the time instrument.
B)It must be payable at a future time,and the date must be determinable through a separate instrument prepared in conjunction with the time instrument.
C)It is payable in the same manner as a demand instrument.
D)It must be payable at a specific future time which is easily determinable from the document itself.
E)It may be made payable at a past or future date so long as a method for computing past-due interest is set forth in the document.

Question

Quizplus · Accepted Answer

A)Payment on a time instrument can be made only at a specific future time,which the UCC says must be easily determined from the document itself [3-108b)].
B)Payment on a time instrument can be made only at a specific future time,which the UCC says must be easily determined from the document itself [3-108b)].
C)Payment on a time instrument can be made only at a specific future time,which the UCC says must be easily determined from the document itself [3-108b)].
D)Payment on a time instrument can be made only at a specific future time,which the UCC says must be easily determined from the document itself [3-108b)].
E)Payment on a time instrument can be made only at a specific future time,which the UCC says must be easily determined from the document itself [3-108b)].

Which of the Following Is True Regarding Payment on a Time