An obligation to pay a negotiable instrument subject to conditions precedent is known as:
A) primary liability.
B) secondary liability.
C) acceptance.
D) dishonor.
Correct Answer:
Verified
Q37: By paying the holder on an instrument,
Q38: An accommodation maker is not liable on
Q39: Parties with secondary liability unconditionally promise to
Q40: Unauthorized signatures include both forgeries and signatures
Q41: Notice of dishonor of an instrument must
Q43: To certify a check, the bank must:
A)
Q44: Bob, a guest in Jim's house, opens
Q45: A(n) _ signs an instrument to lend
Q46: Conversion of an instrument will occur if:
A)
Q47: Mark gives a bearer note for $50
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