A qualified indorser will incur secondary,rather than primary,liability.
Correct Answer:
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Q14: The location of a person's signature on
Q15: Qualified indorsers and agents that properly sign
Q16: A party can incur contract liability on
Q17: Before a party can be held secondarily
Q18: Certification of a check by the drawee
Q20: Unqualified indorsers must pay any dishonored instrument
Q21: Of the following roles that persons who
Q22: Breach of contract is a real defense.
Q23: Someone can have warranty liability on an
Q24: Cancellation of a negotiable instrument will discharge
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