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Which of the Following Type of Liability Establishes That the Party

Question 36

Multiple Choice

Which of the following type of liability establishes that the party must pay the amount due on the instrument if the primarily liable party defaults?


A) A party who has secondary liability.
B) A party who has maker liability.
C) A party who has acceptor liability.
D) A party who has recognition liability.
E) A party who has transfer liability.

Correct Answer:

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