Under revised Article 3 of the Uniform Commercial Code, an exception to the rule that an instrument payable on demand is not payable before the date of the instrument is made for:
A) checks.
B) promissory notes.
C) a holder in due course.
D) certificates of deposits.

Question

Quizplus · Accepted Answer

An instrument may be antedated or postdated, and normally an instrument payable on demand is not payable before the date of the instrument. However, revised Article 3 makes an important exception for checks; a payor bank (a bank that is the drawee of a draft) may pay a postdated check before the stated date unless the drawer has notified the bank of postdating pursuant to a procedure set out in the Code.

Under Revised Article 3 of the Uniform Commercial Code, an Exception