An indorsement that operates to pay only part of the face value of an instrument is not an effective indorsement.
Correct Answer:
Verified
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
Q14: An indorsement that consists of the words
Q15: A negotiation is ineffective when made by
Q17: A note or draft can be payable
Q18: Negotiation can occur only with an order
Q19: The transferor's contract liability is limited.
Q20: A prior party who reacquires an instrument
Q21: Agency indorsements are _.
A) conditional indorsements
B) qualified
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