According to the Uniform Commercial Code, _____ occurs when a person entitled to enforce the instrument (creditor) demands payment from the maker.

Question

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Presentment is the act of presenting a negotiable instrument like a check, promissory note, or bill of exchange to the person responsible for payment. The Uniform Commercial Code specifies that when presentment is made, the person entitled to enforce the instrument (creditor) can demand payment from the maker. Therefore, the act of demanding payment from the maker is called presentment, and it is the correct option. Acceptance refers to the drawee's agreement to pay a draft, conversion means the unauthorised act of taking someone else's property as your own, dishonor refers to the refusal to pay or accept a negotiable instrument, and discharge means the fulfillment of the obligation under the instrument.

According to the Uniform Commercial Code, _____ Occurs When a Person