Which of the following is an incorrect statement about the effect of the payment structure of an instrument on determining whether it is overdue? Multiple choice question. Most of the rules regarding whether a time instrument is overdue depend on the payment structure of the instrument. If a party misses a payment of interest on an installment of the instrument, it is overdue. If the instrument requires payment in a lump sum, it is overdue if the party does not make the lump-sum payment by the due date. A time instrument may or may not be payable in installments