Instrument Terms http://thebusinessprofessor.com/lost-negotiable-instruments/ Resource Video: • 19. When is payment on a negotiable instrument overdue? Instrument is due, but it has not been paid. • the day after demand for payment is duly made; for a check, 90 days after its posted date; or after a period of time unreasonably long under the circumstances. http://thebusinessprofessor.com/overdue-payment-of-negotiable-instrument/ Resource Video: • 20. What effect does a negotiable instrument have on the underlying obligation? pursuant to an underlying agreement, contract, or obligation. • instruments” the underlying obligation is merged and suspended payed. • “ordinary instrument” - discharged at the time instrument is accepted • “near-cash Resource Video: • HOLDER IN DUE COURSE 21. What is a holder in due course?
Instrument Terms • Resource Video: http://thebusinessprofessor.com/lost-negotiable-instruments/ 19. When is payment on a negotiable instrument overdue? • Instrument is due, but it has not been paid. the day after demand for payment is duly made; for a check, 90 days after its posted date; or after a period of time unreasonably long under the circumstances. • Resource Video: http://thebusinessprofessor.com/overdue-payment-of-negotiable-instrument/ 20. What effect does a negotiable instrument have on the underlying obligation? • pursuant to an underlying agreement, contract, or obligation. • “ordinary instruments” the underlying obligation is merged and suspended payed. • “near-cash instrument” - discharged at the time instrument is accepted • Resource Video: HOLDER IN DUE COURSE 21. What is a holder in due course?
SO-20.docx