. Which of the following statements is true as to date? a. An undated instrument is considered to be dated as of the time itwas issued. b. The instrument is not valid forthe reason that it is ante—dated or post-dated, provided this is not done for an illegal or fraudulent purpose. c. The insertions of the wrong date avoid the instrument in the hands of the su bsequent holder in due course. . d. Where instrument or acceptance or endorsement thereon is dated, such is not deemed to be prima facie to be the true date of the making, acceptance or _ en dorsement.
Question
. Which of the following statements is true as to date? a. An undated instrument is considered to be dated as of the time itwas issued. b. The instrument is not valid forthe reason that it is ante—dated or post-dated, provided this is not done for an illegal or fraudulent purpose. c. The insertions of the wrong date avoid the instrument in the hands of the su bsequent holder in due course. . d. Where instrument or acceptance or endorsement thereon is dated, such is not deemed to be prima facie to be the true date of the making, acceptance or _ en dorsement.
Solution
The statement that is true as of the current date is:
b. The instrument is not invalid for the reason that it is ante-dated or post-dated, provided this is not done for an illegal or fraudulent purpose.
This statement is true because an instrument can be legally ante-dated or post-dated as long as it is not done with the intention of committing fraud or any illegal activity. The other options are not generally true in the context of legal and financial instruments.
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