Warranty liability is
A) The guarantee that the drawee has sufficient funds to cover the negotiable instrument.
B) The legal liability of someone who receives payment on an instrument.
C) The equitable liability of someone who receives payment on the instrument.
D) The guarantee that the negotiable instrument is free from fraud.
Correct Answer:
Verified
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Q27: Another word for principal is
A) Representative
B) Agent
C)
Q28: Another word for representative is
A) Principal
B) Agent
C)
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