A possessor of non-negotiable commercial paper has the same rights as the person who made the original contract.
Correct Answer:
Verified
Q2: Charlene Brown has possession of a check
Q3: A & D,Inc.wrote a negotiable note payable
Q4: Valley National Bank issued a note promising
Q5: Margo is in possession of a check
Q6: A claim in recoupment can be used
Q8: Personal and real defenses are valid against
Q9: A draft is always a check,but a
Q10: With non-negotiable commercial paper,a transferee's rights are
Q11: There are three parties on a promissory
Q12: An indorsement is the signature of the
A)drawer.
B)payer.
C)issuer.
D)payee.
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents