Which of the following statements best describes the effect of a person indorsing a check "without recourse?"
A) The person coverts the check to bearer paper
B) Directs payment to a specific person
C) The person makes no promise or guarantee of payment on dishonor of the instrument
D) The person has no liability to prior indorsers
Correct Answer:
Verified
Q19: An indorsement transfers ownership of a negotiable
Q20: A check is made payable to "Mark
Q21: A negotiation is defined as
A) an assignment
Q22: No _ is required to transfer ownership
Q23: A(n) _ is the signature of the
Q25: "For deposit only, Robert Marin" is a
A)
Q26: Which of the following requirements must be
Q27: A blank indorsement
A) consists only of the
Q28: An indorsement
A) usually appears on the back
Q29: A(n) _ instrument is negotiated by indorsement
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