The customary manner of disclaiming the indorser's contractual liability is to add which of the following sets of words before or after his signature?
A) Pay to the order of.
B) Without recourse.
C) For deposit only.
D) For collection only.

Question

Quizplus · Accepted Answer

"Without recourse" is the phrase used by an indorser to disclaim contractual liability, indicating that the indorser does not accept responsibility for future payment in case the primary party defaults.

The Customary Manner of Disclaiming the Indorser's Contractual Liability Is