All the Following Conditions Meet the Requirement of the Liability

question 18

Multiple Choice

All the following conditions meet the requirement of the liability for payment of the instrument by the endorser or the drawer,EXCEPT when:

• A) it has been properly presented for payment to the maker.
• B) payment has been refused by the maker or drawee.
• C) notice of the refusal has been given to the drawer or endorser.
• D) the bank has assured that the payment will be made later.

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Definitions:

Amu

Atomic Mass Unit, a standard unit of mass that quantifies mass on an atomic or molecular scale.

Valence Electrons

Electrons in the outermost shell of an atom that are available for bonding with other atoms.

Atomic Number

The number of protons in the atomic nucleus of an atom, which uniquely identifies the element to which the atom corresponds.

Chemical Behavior

Describes the reactions and interactions of substances based on their chemical properties and the conditions under which they occur.