When the negotiable instrument is negotiated by delivery without indorsement, the warranty liability of the transferor runs only to the immediate transferee.
Correct Answer:
Verified
Q31: A qualified indorsement is given by using
Q32: The transferee has only those rights that
Q33: The order or bearer character of the
Q34: If a lost negotiable instrument is in
Q35: An indorsement "for deposit only" is:
A) restrictive.
B)
Q37: Thomas, the holder of a check, presents
Q38: The impostor rule is an exception to
Q39: The transferring of an instrument in such
Q40: Negotiation of bearer paper requires:
A) delivery only.
B)
Q41: Clark is the senior payroll clerk for
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