Asked by neeranjali kallydeen on Apr 24, 2024
Verified
Under the Uniform Commercial Code,how can a proper presentment be made?
A) By any commercially reasonable means
B) Through a clearinghouse procedure
C) At a place designated in the instrument
D) By any commercially reasonable means,through a clearinghouse procedure,or at a place designated in the instrument
E) Through a clearinghouse procedure or at the place designated in the instrument,but not by any commercially reasonable means
Uniform Commercial Code
A comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify transactions across state lines.
Proper Presentment
The correct or formal presentation of a document for acceptance or payment, such as a check.
- Discerning the ordinances and rules pertinent to negotiable instruments, covering their display, ratification, and dishonor.
Verified Answer
JD
Jonathan DelugachMay 02, 2024
Final Answer :
D
Explanation :
Uniform Commercial Code Section 3-501(b)states that an instrument can be presented: a)by any commercially reasonable means; b)through a clearinghouse procedure; or c)at the place designated in the instrument.
Learning Objectives
- Discerning the ordinances and rules pertinent to negotiable instruments, covering their display, ratification, and dishonor.
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