Multiple Choice
An indorsement whereby the indorser promises to pay the holder or any subsequent indorser the amount of the instrument if the maker, drawer, or acceptor defaults is referred to as a(n) ________.
A) competent indorsement
B) promissory indorsement
C) unqualified indorsement
D) qualified indorsement
Correct Answer:
Verified
Correct Answer:
Verified
Q8: For an order paper to be negotiated
Q9: An instrument that is not payable to
Q10: Which of the following qualifications renders a
Q11: A separate piece of paper attached to
Q12: The holder of a negotiable instrument has
Q14: Under the Uniform Commercial Code's _ requirement,
Q15: A qualified indorsement protects subsequent indorsers from
Q16: A qualified indorsement puts limited liability on
Q17: Unqualified indorsements are considered negotiable instruments.
Q18: A(n) _ is an indorsement that has