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:
Verified
Q32: Under what conditions is presentment waived or
Q33: Notice of dishonor is not required if:
A)
Q34: A drawee bank that pays over a
Q35: A person acting (or purporting to act)
Q36: Acceptance of a draft by a bank
Q37: According to the Uniform Commercial Code, _
Q38: Unlike primary liability, secondary liability is conditional,
Q40: Which of the following is true about
Q41: The facts are the same as above,
Q42: Would your answer to 1 and 2
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