Multiple Choice
Which of the following is true of primary liability?
A) A maker of notes does not carry a primary liability.
B) A drawee is liable only by writing "accepted" and signing the draft.
C) A person with primary liability is liable to pay before the instrument is due.
D) An acceptor of drafts does not carry a primary liability.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: A holder for value and in good
Q4: An agent who signs an instrument indicating
Q5: In general, the defenses available in a
Q6: A check is considered dishonored if it
Q7: Which of the following best describes alteration?<br>A)It
Q9: is the demand for acceptance or payment
Q10: Which of the following is an example
Q11: Even in cases in which the defendant's
Q12: When an alteration is fraudulently made,
Q13: Which of the following is a definition