Asked by Seema AlHiraki on Jun 16, 2024
Verified
Which of the following may be considered a commercially reasonable manner by which notice of dishonor can be given to a secondarily liable party?
A) Orally
B) In writing
C) Electronically
D) Orally,in writing,or electronically
E) By certified letter,return receipt requested only
Commercially Reasonable
Actions that a prudent person would reasonably take under comparable circumstances, particularly in business transactions.
Notice of Dishonor
A formal notification that a negotiable instrument, like a check, has been refused payment.
- Comprehending the laws and regulations that govern negotiable instruments, specifically their presentment, backing, and dishonor.
Verified Answer
TB
Tommy BarronJun 21, 2024
Final Answer :
D
Explanation :
Uniform Commercial Code Section 3-503(b)states that notice of dishonor can be given in any commercially reasonable manner,including oral,written,or electronic communication.
Learning Objectives
- Comprehending the laws and regulations that govern negotiable instruments, specifically their presentment, backing, and dishonor.
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