Asked by Cheng Tso Hsieh on Jun 13, 2024
Verified
A waiver of presentment will not waive the requirement of notice of dishonor.
Waiver Of Presentment
An agreement to waive the formal presentation of an instrument, such as a check or draft, for payment.
Notice Of Dishonor
A formal notification indicating that a negotiable instrument, such as a check, has been refused payment.
- Ascertain the outcomes of presentment, notice of nonpayment, and deferral resulting from situational factors.
Verified Answer
WJ
Wanting JiangJun 16, 2024
Final Answer :
False
Explanation :
A waiver of presentment implies that the party waiving it also waives the right to be notified of dishonor, as presentment and notice of dishonor are closely related steps in the process of handling negotiable instruments.
Learning Objectives
- Ascertain the outcomes of presentment, notice of nonpayment, and deferral resulting from situational factors.