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James Nacar
on Nov 27, 2024

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If an instrument is payable within a definite period of time after being presented for payment, the maker or drawee is under no obligation to pay until that time.

Definite Period

A specific, fixed duration of time identified in a contract or agreement during which certain actions must be performed or conditions met.

Presented

Shown, given, or made available for viewing or consideration.

Payment

The transfer of money or goods from one party to another as compensation for goods or services provided or as a fulfillment of a legal obligation.

  • Comprehend the rules governing the terms and conditions of payment for negotiable instruments.
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Annie Alejandra Rossi CastellaniNov 29, 2024
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