If the holder fails to present the instrument within the prescribed time limit, the holder loses the right of recourse to the prior party.
举一反三
- The conditions for the holder to exercise the right of recourse are: the holder holds the qualified bill, and the holder is responsible and refused to pay.
- The holder of a bill does not present for payment before the due of the bill. If the holder is refused payment, the prior party may be exempted from recourse.
- Where the consignee fails to declare the import goods within the time limit prescribed, a fee for delayed declaration shall be imposed by the Customs.
- A Call option gives the holder the right to ____ an instrument whereas a put option gives the holder the right to _____. () A: Exercise, confiscate B: Sell, purchase C: Purchase, sell D: Transfer, sell
- A foreign currency option is an agreement between a holder (corporation) and a writer (commercial bank) giving the holder the right to buy or sell a certain amount of foreign currency at any time through some specified date.