If the holder of an instrument strikes out the names of several of the in?dorsers, any liability those parties had on the instrument is canceled.

Name: If the holder of an instrument strikes out the names of several of the in?dorsers, any liability those parties had on the instrument is canceled.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Striking out the names of indorsers on a negotiable instrument effectively cancels their liability, as it indicates that the holder no longer holds them responsible for payment.

If the Holder of an Instrument Strikes Out the Names