The UCC Excuses Presentment for Payment or Acceptance If

question 4

Multiple Choice

The UCC excuses presentment for payment or acceptance if:

• A)the person who is entitled to enforce the instrument cannot, with reasonable diligence, present the instrument.
• B)the maker or acceptor of the instrument has repudiated the obligation to pay, is dead, or is in insolvency proceedings.
• C)the drawer or indorser has waived the rights of presentment.
• D)the drawee was not obligated to the drawer to pay the draft.
• E)All of the above.

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Definitions:

Emancipated Slaves

Former slaves who have been freed from slavery, often after legal abolition or through individual manumission.

Plantation Owners

Individuals or corporations who owned large agricultural estates typically worked by enslaved people or laborers.

Wade-Davis Bill

A 1864 proposal for the Reconstruction of the South written by Radical Republicans Benjamin Wade and Henry Winter Davis, which required a majority of a former Confederate state's white males to swear allegiance to the Union before restoration.