Discharge from liability on an instrument cannot occur if a holder impairs another party's right of recourse-right of reimbursement-on the instrument.

Name: Discharge from liability on an instrument cannot occur if a holder impairs another party's right of recourse-right of reimbursement-on the instrument.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Discharge from liability can occur if a holder impairs another party's right of recourse, as it affects the ability of the party to seek reimbursement, potentially releasing them from liability.

Discharge from Liability on an Instrument Cannot Occur If a Holder