Len Signs a Note "Payable to the Order of Account

question 57

Multiple Choice

Len signs a note "payable to the order of Account Collection Agency." Unless Len has a valid defense against payment, his liability on this note is​

• A) ​immediate.
• B) ​imposed only after payment is demanded.
• C) ​postponed until the note is dishonored by the payee.
• D) ​suspended until payment is due.

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Definitions:

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