What is the difference between time paper and demand paper? When is each type overdue?
Time paper is payable at a specified future date. It is due on its stated due date if the stated date is a business day or, if not, on the next business day. It becomes overdue on the day after the due date. Demand paper is payable on demand (that is, immediately upon presentation to the drawee). It is overdue for purposes of preventing a purchaser from becoming a holder in due course if the purchaser has notice that she is taking the instrument on a day after demand has been made or after it has been outstanding for an unreasonably long time. The Code provides that for checks a reasonable time is 90 days after their date.
You might also like to view...
______ is often the end result of having cultural blinders on.
a. Negative attribution b. Cross-cultural engagement c. Business success d. An increase in global domestics
Which of the following is a reason that makes NPV a better approach to capital budgeting on a purely theoretical basis?
A) It measures the benefits relative to the relative amount invested. B) The reinvestment rate assumed by this method is reasonable. C) Financial decision makers are inclined to higher rates of return. D) Interest rates are expressed as annual rates of return.
Fernando Kraushar a student at Consumé Community College, often drove trucks for his brother Carlos, helping with pickup and delivery operations. Carlos would pay him $12 per hour and give him explicit instructions about the pickup and delivery times and even the driving routes. Fernando resented his big brother's dominance, but Carlos was explicit, "I love you bro, but don't ever negotiate with
either the buyers or sellers.". What term or terms best describes Fernando? a. agent/independent contractor b. employee c. agent d. durable power of attorney
Darcy buys a life insurance policy on her own life, under which she pays the annual premiums. The insurance is issued for a specific period, but is renewable for similar periods. Darcy is covered only as long as she makes the payments. There is no cash value portion to the policy. Darcy probably owns
A. whole life insurance. B. key-person life insurance. C. term life insurance. D. an annuity.