A Delay in Payment or a Refusal to Pay an Instrument

question 17

True/False

A delay in payment or a refusal to pay an instrument when it is returned because it lacks a proper indorsement is a dishonor of the instrument.

---

Definitions:

Modern View

A contemporary perspective or interpretation on a topic, often differing significantly from traditional or historic stances.

Existential Import

Refers to the implication that a statement about a category has at least one member.

Modern View

A contemporary perspective or way of thinking about a subject, often contrasting with traditional views.

Affirmative

A response or statement that confirms, supports, or agrees with a proposition or idea.