A right to ________ is the ability of a party to seek reimbursement.
A)rescission
B)recourse
C)renunciation
D)revocation
E)recusal

Question

Quizplus · Accepted Answer

A right to recourse is the ability of a party to seek reimbursement.Typically,when a holder presents an instrument to an endorser,the endorser can seek recourse from prior endorsers,the maker,the drawer,or accommodating parties.However,if the holder has in some way impaired the endorser's ability to seek recourse from any of these parties,the endorser is not liable on the instrument.

A Right to ________ Is the Ability of a Party