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Quint Brings a Draft Drawn on Regional Credit Union and "Payable

Question 31

Multiple Choice

Quint brings a draft drawn on Regional Credit Union and "payable to Silo LLC" to Regional. The credit union stamps "accepted" on the face of the draft, signs it, and dates it. Regional is


A) no longer liable for payment of the draft.
B) secondarily liable for payment of the draft.
C) obligated to pay the draft when it is presented for payment.
D) liable for payment of the draft thirty days after issue.

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