A qualified indorsement puts limited liability on the indorser.

Name: A qualified indorsement puts limited liability on the indorser.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A qualified indorsement places limitations or conditions on the indorser's liability, usually stating that the indorsement is for a particular purpose or is subject to certain warranties. Therefore, the indorser is only liable for the limited scope of the indorsement, rather than for the entire amount of the instrument.

A Qualified Indorsement Puts Limited Liability on the Indorser