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There Are Some Deadlines for Giving Notice: on an Instrument

Question 21

Multiple Choice

There are some deadlines for giving notice: on an instrument taken for collection:


A) a nonbank must give notice before midnight on the next banking day following the day on which it receives notice of dishonor.
B) a bank must give notice within thirty days after the day it received notice.
C) in all situations, the deadline is ninety days after the day dishonor occurred.
D) a specific form of notice is required to be given in written communication.
E) may be given by any commercially reasonable means including a written, or electronic communication, but excluding all oral communication.

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