Exam 21: Holder in Due Course and Liability of Parties

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An accommodation party may sign an instrument guaranteeing collection rather than payment of an instrument.In this situation,the accommodation party is ________ liable on the instrument.

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Article 3 of the Uniform Commercial Code establishes certain rules for assessing liability when a negotiable instrument has been paid over a(n)________ indorsement.

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Which of the following is true?

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