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Legal Environment 5th Edition by Jeffrey Beatty,Susan Samuelson
Edition 5ISBN: 978-1133587491Legal Environment 5th Edition by Jeffrey Beatty,Susan Samuelson
Edition 5ISBN: 978-1133587491 Exercise 2
What is the difference between a co-maker and an accommodation party?
A) A co-maker is liable both to the holder and the other co-maker, while an accommodation party is liable only to the holder.
B) A co-maker is liable to subsequent indorsers, while an accommodation party is not.
C) A co-maker is liable only to the other co-maker, while the accommodation party is liable to the holder.
D) A co-maker is not liable once a bank certifies a check, while an accommodation party is still liable even after certification.
A) A co-maker is liable both to the holder and the other co-maker, while an accommodation party is liable only to the holder.
B) A co-maker is liable to subsequent indorsers, while an accommodation party is not.
C) A co-maker is liable only to the other co-maker, while the accommodation party is liable to the holder.
D) A co-maker is not liable once a bank certifies a check, while an accommodation party is still liable even after certification.
Explanation
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A co-maker is liable to both the holder ...
Legal Environment 5th Edition by Jeffrey Beatty,Susan Samuelson
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