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Which of the following is true of a time instrument? If a party misses payment of an installment, it is overdue until the principal is

Which of the following is true of a time instrument?

If a party misses payment of an installment, it is overdue until the principal is paid.

It becomes overdue at any point after the expressed due date on it.

It becomes overdue only after 90 days of the due date.

If a party misses payment of interest on the instrument, it becomes overdue.

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