Dishonor of an Instrument Involves Which of the Following

question 11

Multiple Choice

Dishonor of an instrument involves which of the following?

• A)A demand note is dishonored if the maker does not pay it on the day of presentment.
• B)An accepted demand draft is dishonored if the drawer does not pay it on the day of presentment.
• C)If a check is presented for payment directly to the payor/drawee bank for immediate payment, a refusal to pay the check within seven business days of presentment constitutes dishonor.
• D)All of the above.

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Definitions:

Lexicon

A mental store thought to hold a cognitive processor’s knowledge of words, including their spelling, pronunciation, definition, part of speech, and so on.

Psychological Essentialism

The idea that people possess implicit theories about fundamental characteristics that all instances of a concept contain or embody.

Mental Representation

Internal cognitive symbols that represent external reality or abstract concepts, enabling understanding and reasoning.

Essences

The intrinsic nature or indispensable quality of something, especially something abstract, that determines its character.