Which of the following is a similarity between a qualified endorsement and an endorsement prohibiting further endorsement under the ULB?
A. In both the endorsements, the endorsee has no rights against the endorser.
B. In both the endorsements, the endorsee is considered a holder of the instrument.
C. In both the endorsements, the endorsee is considered a collecting agent for the endorser.
D. In both the endorsements, the endorsee has no rights against endorser until a stipulated condition is met.
A
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