Failure of maker to pay the maturity value of a note when due is considered a(n):
A) honored note.
B) equipment exchange.
C) default.
D) None of the above.

Name: Failure of maker to pay the maturity value of a note when due is considered a(n): A) honored note. B) equipment exchange. C) default. D) None of the above.
Brand: Quizplus
Rating: 4.7 (32 reviews)

Question

Quizplus · Accepted Answer

When a maker fails to pay the maturity value of a note when due, it is considered a default. This means the maker has not fulfilled their obligation to pay the note at its maturity.

Failure of Maker to Pay the Maturity Value of a Note