Because banks rely on transfer warranties in the check-collection process, these warranties cannot be disclaimed with regard to checks.
Correct Answer:
Verified
Q10: Every party who signs a negotiable instrument
Q11: The proper presentment of a negotiable instrument
Q12: Timely notice of the dishonor of an
Q13: Like secondary signature liability, warranty liability is
Q14: The transfer of an instrument, with or
Q16: Warranty liability arises in the negotiation of
Q17: Generally, when an indorsement is unauthorized, the
Q18: Warranty liability does not arise when a
Q19: An investor who signs a note on
Q20: A person who transfers an instrument for
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