Asked by
Nicole Mendez
on Nov 27, 2024
Verified
A person who takes a demand instrument knowing that demand has been made has notice that the instrument is overdue.
Demand Instrument
A financial document that requires payment of the amount specified on it upon demand by the holder.
Overdue
A state of being late or delayed in completing a payment, task, or fulfilling an obligation beyond the agreed timeframe.
Demand
The desire of purchasers to buy goods or services at a given price, which, combined with supply, determines market prices.
- Identify factors that affect a party's liability on a negotiable instrument.
Verified Answer
MA
Learning Objectives
- Identify factors that affect a party's liability on a negotiable instrument.