Which of the following statements is true of a qualified indorsement?
A. It does not change the negotiable nature of the instrument.
B. It specifies the purpose of the indorsement or specifies the use to be made of the instrument.
C. It does not eliminate the contractual liability of the indorser.
D. It contains the signature of the indorser along with the words indicating to whom, or to whose order, the instrument is payable.
Answer: A
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