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Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond
Edition 9ISBN: 978-1133586562Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond
Edition 9ISBN: 978-1133586562 Exercise 11
Under the UCC, Article 3, which of the following statements best describes the effect of indorsing a check "without recourse"?
a. The person who signed the check has no liability.
b. The person makes no promise or guarantee of payment on dishonor.
c. The person converts the check into order paper. d. Both b and c.
a. The person who signed the check has no liability.
b. The person makes no promise or guarantee of payment on dishonor.
c. The person converts the check into order paper. d. Both b and c.
Explanation
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Verified
Qualified Indorsement:
A qualified indo...
Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond
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