Under Revised Article 3 of the UCC, failure to give notice of dishonor will discharge the drawer from having to pay on the instrument.
Correct Answer:
Verified
Q14: An accommodation party is a direct beneficiary
Q15: The signature of the maker of a
Q16: Presentment for payment is one step necessary
Q17: A signature may be made by an
Q18: An accommodation party will always be primarily
Q20: Indorsers of all instruments incur primary liability
Q21: By indorsing a check, "Without recourse," Pat
Q22: An unauthorized signature cannot be ratified by
Q23: An acceptor should always indicate on the
Q24: Presentment is excused where the acceptor is
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