The drawer of a draft has primary liability on the draft when it is issued.
Correct Answer:
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Q4: When a drawee accepts a draft,the drawee
Q5: Drawers of checks and drafts have secondary
Q7: Qualified indorsers are secondarily liable on instruments
Q8: Primary liability occurs when a draft or
Q9: Drawers of checks and drafts and unqualified
Q10: An accommodation party who pays an instrument
Q11: An unauthorized signature may be ratified.
Q23: If an unauthorized agent signs a note
Q37: Contract liability is another term used to
Q37: An accommodation party who signs an instrument
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