Solved

Which of the Following Statements Ties to the 'Maker' as the Party

Question 39

Multiple Choice

Which of the following statements ties to the 'maker' as the party that is primarily liable?


A) Indorsers may disclaim contractual liability by indorsing "without recourse".
B) The drawer of a non-check draft may disclaim her contractual liability on the instrument by drawing "without recourse".
C) If the drawee varies the terms when accepting the draft, it is liable according to the terms as varied.
D) The obligation is owed to a person entitled to enforce the note or to an indorser that paid the note.
E) An unauthorized signature may be ratified by the principal.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents