A transferor of a negotiable instrument for consideration warrants to his transferee that the negotiable instrument has not been altered.

Question

Quizplus · Accepted Answer

If an unaccepted draft (such as a check)is presented to the drawee for payment or acceptance and the drawee pays or accepts the draft,then the person obtaining payment or acceptance warrants to the drawee making payment or accepting the draft in good faith that the draft has not been altered.

A Transferor of a Negotiable Instrument for Consideration Warrants to His