Before a party can be held secondarily liable on an instrument,that party must have received a timely notice that the instrument was dishonored.
Correct Answer:
Verified
Q12: A check,which is a special form of
Q13: Unqualified indorsers have no liability on negotiable
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
Q18: Certification of a check by the drawee
Q19: A qualified indorser will incur secondary,rather than
Q20: Unqualified indorsers must pay any dishonored instrument
Q21: Of the following roles that persons who
Q22: Breach of contract is a real defense.
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