Primary liability occurs when a draft or check is issued,as such instruments are orders to pay.

Name: Primary liability occurs when a draft or check is issued,as such instruments are orders to pay.
Brand: Quizplus
Rating: 4.8 (42 reviews)

Question

Quizplus · Accepted Answer

Primary liability occurs when a party is directly responsible for fulfilling the obligation of a financial instrument, such as the maker of a promissory note or the acceptor of a draft, not merely when a draft or check is issued.

Primary Liability Occurs When a Draft or Check Is Issued,as