An indorsement that consists of the words "without recourse" is a conditional indorsement.
Correct Answer:
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Q9: Only negotiable instruments can be transferred.
Q10: A conditional indorsement is an indorsement that
Q11: A blank indorsement consists of the indorser's
Q12: A blank indorsement converts order paper to
Q13: An order paper is a negotiable instrument
Q15: A negotiation is ineffective when made by
Q16: An indorsement that operates to pay only
Q17: A note or draft can be payable
Q18: Negotiation can occur only with an order
Q19: The transferor's contract liability is limited.
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