Which of the following statements is true of an indorsement?
A. It generally does not make a person liable on the instrument even if he or she is engaged in any illegality affecting the instrument.
B. It applies only to payments made to a depositary bank.
C. It makes a person liable on an instrument indorsed by him or her if the person primarily liable on it does not pay it.
D. It does not affect future attempts to negotiate the instrument.
Answer: C
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"Goods completed and on hand" refers to:
a. goods in the finished goods warehouse. b. goods awaiting sale. c. finished goods purchased directly from suppliers. d. finished goods in a department that have not yet been transferred to the next department.
A product line is most likely too long if managers can ________
A) decrease costs by adding items B) increase market share by adding items C) increase profits by dropping items D) decrease costs by dropping items E) increase profits by adding items
A _____ is a way of understanding something.
A. grid B. frame C. transition D. task behavior
A check drawn by a company in payment of a voucher for $635 was recorded in the journal as $365. What entry is required in the company's accounts?
A) debit Accounts Payable; credit Cash B) debit Cash; credit Accounts Receivable C) debit Cash; credit Accounts Payable D) debit Accounts Receivable; credit Cash