There Are Some Deadlines for Giving Notice: on an Instrument

question 36

Multiple Choice

There are some deadlines for giving notice: on an instrument taken for collection:

• A) a nonbank must give notice before midnight on the next banking day following the day on which it receives notice of dishonor.
• B) a bank must give notice within thirty days after the day it received notice.
• C) in all situations, the deadline is ninety days after the day dishonor occurred.
• D) a specific form of notice is required to be given in written communication.
• E) may be given by any commercially reasonable means including a written, or electronic communication, but excluding all oral communication.

---

Definitions:

Cichlids

A diverse family of freshwater fish known for their vibrant colors and complex behaviors, often found in tropical regions.

Cohort

Group of individuals born during the same interval.

Survivorship Curve

Graph showing how many members of a cohort remain alive over time.

Death Rate

The average number of deaths per unit of population over a given period of time.