Which of the following is true if an instrument contains more than one endorsement?
A) Each endorser is liable for the full amount to any subsequent endorser or to any holder.
B) Only the last endorser is liable to the holder,and no prior endorsers are liable to a subsequent endorser.
C) Each endorser is liable for the full amount to the subsequent endorser,but only the last endorser is liable to any holder.
D) The last endorser is liable to the holder,whereas subsequent endorsers are responsible for reimbursing previous endorsers in proportion to the number of endorsers that exist.
E) Each endorser is liable to the holder in proportion to the number of endorsers.
Correct Answer:
Verified
Q50: Under the Uniform Commercial Code,how can a
Q51: How can an accommodation party sign an
Q52: Which of the following are types of
Q53: A(n)_ accepts and signs a draft to
Q54: Carl,without Eddie's knowledge,impersonates Eddie and thereby convinces
Q56: Which of the following is true regarding
Q57: When a holder presents an instrument in
Q58: What was the result in the Rakestraw
Q59: If an instrument is not an unaccepted
Q60: Which of the following results in liability
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents