Which of the following is not considered when determining a reasonable time in which a demand instrument is due?
A)Nature of the instrument
B)Trade or bank usage
C)A party's individual circumstances
D)Facts of the particular case

Question

Quizplus · Accepted Answer

In the case of a demand instrument,the nature of the instrument,trade or bank usage,and the facts of the particular case determine a reasonable time for presentment for acceptance or payment.In a farming community,for example,a reasonable time to present a promissory note that is payable on demand may be six months or within a short time after the crops are ready for sale,because the holder commonly expects payment from the proceeds of the crops.

Which of the Following Is Not Considered When Determining a Reasonable