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After how many days is a Drawer discharged from all liability on the instrument, if no notice of dishonor is received?

One day

Five days

Ten days

Thirty days

The answer is based on the Uniform Commercial Code (UCC), which governs negotiable instruments. According to the UCC, a drawer is discharged from liability on a check if the holder of the check fails to give notice of dishonor within a specific timeframe.

In this context, if a check has been presented and is dishonored, the holder must notify the drawer within 30 days. If no notice of dishonor is received within this period, then the drawer is discharged from any liability concerning that instrument. This provision helps to protect the interests of the drawer, ensuring they are not indefinitely connected to a transaction concerning a check that the holder has failed to act upon.

The other timeframes presented do not align with this legal requirement, making the 30-day period the correct answer for the question about when a drawer is discharged from liability if no notice of dishonor is received.

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