A(n) ________ indorsement includes the notation "without recourse" or similar language that disclaims liability of the indorser.
A) qualified
B) unqualified
C) promissory
D) competent

Question

Quizplus · Accepted Answer

A qualified indorsement includes language that limits or disclaims the liability of the indorser, such as "without recourse." An unqualified indorsement, on the other hand, does not contain any such language and makes the indorser liable for payment. Promissory and competent are not terms used to describe types of indorsements.

A(n) ________ Indorsement Includes the Notation "Without Recourse" or Similar