Overdue Payment of Negotiable Instrument

The video tutorial explains when payments on commercial paper are due and when they become overdue. It highlights the importance of these timings as they affect the rights and obligations of both the payee and the payor. The tutorial distinguishes between different types of instruments, such as notes and drafts, and explains the criteria for them being overdue. It also outlines specific rules for demand and time instruments, including the invalidity of instruments if presented too late. General rules for overdue payments, such as checks being overdue 90 days after the posted date, are also discussed.

What is the consequence of waiting too long to present a time instrument for payment?

What is the general rule regarding the overdue status of a check after its posted date?