If a Negotiable Instrument Is Not Accepted When Presented, If

question 3

Multiple Choice

If a negotiable instrument is not accepted when presented, if it is not paid when presented for payment at maturity, or if presentment is excused or waived and the instrument is past due and unpaid, then it is considered:

• A) ineligible.
• B) defunct.
• C) dishonored.
• D) abandoned.

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Definitions:

Property

Legally owned items, including real estate and personal belongings, over which the owner has exclusive rights.

Present Value

The current estimation of future financial gains or cash flows, discounted by a particular return rate.

Medical Expenses

Costs incurred for the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body.

Accident

An unforeseen and unplanned event or circumstance, often with negative consequences.