Under the Uniform Commercial Code's indorsers' liability rules,drawers of checks and drafts and unqualified indorsers of negotiable instruments have ________ liability on the instruments.
A) conditional
B) stipulated
C) primary
D) secondary
E) tertiary

Question

Quizplus · Accepted Answer

Under the UCC, drawers of checks and drafts and unqualified indorsers have secondary liability, meaning they are liable only if the primary party defaults.

Under the Uniform Commercial Code's Indorsers' Liability Rules,drawers of Checks