List and generally explain the warranties on presentment
The warranties on presentment depend on who is the payor or the acceptor. The greatest protection is given to drawees of unaccepted drafts, while all other payors receive significantly less protection.
Presentment warranties to drawees of unaccepted drafts include:
a . entitlement of the presenter to enforce the instrument.
b. that the instrument has not been altered.
c. that the presenter has no knowledge that the drawer's signature is unauthorized.
In instances other than a drawee of an unaccepted draft or uncertified check, the only presentment warranty that is given is that the warrantor is a person entitled to enforce the instrument or is authorized to obtain payment on behalf of the person entitled to enforce the instrument.
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