Asked by Carlos Orellana on Jun 10, 2024
Verified
"Presentment" is necessary within 10 days of the date of issuance of a check.
Presentment
The act of formally presenting a financial document, such as a check or draft, for acceptance or payment.
- Understand the procedures and prerequisites for presenting negotiable instruments.
Verified Answer
SR
Sarah RashidJun 14, 2024
Final Answer :
False
Explanation :
Presentment of a check typically needs to occur within a reasonable time to demand payment, but there is no strict 10-day requirement from the date of issuance. The actual time frame can vary depending on the jurisdiction and the specific circumstances.
Learning Objectives
- Understand the procedures and prerequisites for presenting negotiable instruments.