__________ is overdue for purposes of preventing a purchaser from becoming a holder in due course if the purchaser has notice that she is taking the instrument on a day after demand has been made or after it has been outstanding for an unreasonably long time.
A)Demand paper
B)Time paper
C)A defense
D)A claim

Question

Quizplus · Accepted Answer

Demand paper is considered overdue if the purchaser is aware that it is being taken after a demand has been made or it has been outstanding for an unreasonably long time, which affects the purchaser's ability to become a holder in due course.

__________ Is Overdue for Purposes of Preventing a Purchaser from Becoming