The holder of dishonored commercial paper must give notice of the dishonor immediately to the drawer and to all endorsers in order to hold them liable on the instrument.
Correct Answer:
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Q6: An endorsement where the name of the
Q7: One of the characteristics of commercial paper
Q8: An endorsement in which the payee specifies
Q9: An endorser of an instrument cannot be
Q10: In order to ensure the negotiability of
Q12: If fraud was used to induce a
Q13: It is wise for a person concerned
Q14: The UCC requires presentment of commercial paper
Q15: Fraud in executing an instrument is a
Q16: When an endorsement is made on the
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