Those who disclaim liability and are not secondarily liable on instruments they endorse are referred to as ________.
A) unqualified indorsers
B) qualified indorsers
C) agents
D) accommodation parties

Question

Quizplus · Accepted Answer

Qualified indorsers disclaim liability by using phrases like "without recourse" during endorsement, indicating they do not wish to be held liable if the instrument is not honored.

Those Who Disclaim Liability and Are Not Secondarily Liable on Instruments