Stanley, who owes Milton money, indorses a draft to him with the term "without recourse." The instrument later is dishonored. What liability does Stanley have on the instrument?
A) He has no liabilities on the instrument.
B) He has to pay Milton if the instrument defaults.
C) He has primary liabilities.
D) He has secondary liabilities.
A
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Both callable and noncallable bonds can be purchased by the issuing corporation in the open market
a. True b. False Indicate whether the statement is true or false
______ theories are useful because they are often the basis for our decisions about how to communicate.
A. Commonsense B. Scholarly C. Strategic D. Working
In developing forecasts of expenses the analyst must take into consideration that expenses can be broken down into ________________________ or ______________________ components
Fill in the blank(s) with correct word
On a statement of cash flows prepared using the direct method, if certain expenses do not require a current outlay of cash, those expenses must be subtracted from operating expense to arrive at cash payments for operating expenses
Indicate whether the statement is true or false