alleryStart learning →If an instrument can be read as a promissory note or a bill, the holder may:
AElect either treatment
BDeclare it void
CLet the drawee choose
DRefer to the court
Answer & Solution
Correct answer: A. Elect either treatment
Section 17 gives the holder the election to treat an ambiguous instrument as a note or as a bill, and it is then treated accordingly.
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