If an instrument is not an unaccepted draft presented to a drawee,which of the following presentment warranties is applicable?
A)That the warrantor of the instrument is entitled to enforce the instrument.
B)That the instrument has not been altered.
C)That the warrantor has no knowledge that the drawer's signature or the draft is unauthorized.
D)That the warrantor of the instrument is entitled to enforce the instrument,that the instrument has not been altered,and that the warrantor has no knowledge that the drawer's signature or the draft is unauthorized.
E)That the warrantor of the instrument is entitled to enforce the instrument and that the warrantor has no knowledge that the drawer's signature or the draft is unauthorized,but not that the instrument has not been altered.

Question

Quizplus · Accepted Answer

According to Uniform Commercial Code Section 3-417(d)(1),if the instrument is not an unaccepted draft presented to a drawee,only one presentment warranty applies: The party presenting the instrument guarantees that the warrantor is or was entitled to payment or authorized to obtain payment.

If an Instrument Is Not an Unaccepted Draft Presented to a Drawee,which