Fact Pattern 25-1BBelle obtains a check payable to her order from Charmayne. Belle signs the back and adds the notation "without recourse."Refer to Fact Pattern 25-1B. By writing "without recourse" with her signature, Belle
A. avoids the risk of loss from theft of the instrument.
B. relieves herself from liability on the instrument.
C. converts the check into a nonnegotiable instrument.
D. locks the instrument into the bank collection process.
Answer: B
You might also like to view...
When expressed on a per unit basis, fixed costs can mislead decision makers into thinking of them as variable costs.
Answer the following statement true (T) or false (F)
Scienter is:
a. the intent to defraud b. the intent to befriend c. the lack of intent to defraud d. the ability to defraud e. none of the other choices are correct
Database developers should use meaningful information for primary keys
Indicate whether the statement is true or false
The acronym "IRAC" stands for ________.
A. independence, reporting, analysis, and capture B. initial, repetition, answering, and cooperation C. issue, rule, application, and conclusion D. inquiry, recognition, ambiguity, and captioning