When Is a Time Instrument Not Considered Overdue

question 67

Multiple Choice

When is a time instrument not considered overdue?

• A)A time instrument is always overdue upon any missed payment.
• B)When a party misses an installment payment on the principal.
• C)When a party misses an interest payment on the instrument.
• D)When a party fails to make a lump-sum payment by the due date.
• E)When a party does not make payment on either the principal or interest.

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