Study each of the following case. Answer the questions that follow with Yes or No. Stale Check
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Study each of the following case. Answer the questions that follow with Yes or No.
Stale Check Church accepted a three-year-old check that Field endorsed to her. When Church presented the check for payment, the bank refused to honor it and informed Church that the account had been closed for a year.
a. Is a person who accepts a demand instrument, such as a check, subsequent to a reasonable time after issue considered to have been given notice that the instrument is overdue?
b. Is the drawer of a check responsible to all holders in due course for a period of seven years?
c. Can Church sue the drawer to collect the check?
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