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 transfer liability.
B) A party who has acceptor liability.
C) A party who has maker liability.
D) A party who has secondary liability.
E) A party who has recognition liability.
Correct Answer:
Verified
Q20: When a party signs a negotiable instrument,which
Q21: To hold an endorser secondarily liable on
Q23: Which of the following is true in
Q24: Which of the following is true regarding
Q26: Carl,without Eddie's knowledge,impersonates Eddie and thereby convinces
Q28: Under the UCC, how can proper presentment
Q29: Which of the following must occur for
Q30: Which of the following is a party
Q31: After notice of dishonor is received, how
Q48: When, if ever, will a party's negligence
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents