Ricardo is the holder of a check that contains the indorsement "Without Recourse, (signed) Mary Roberts." This indorsement:
A) makes further indorsement impossible.
B) requires a special indorsement by the transferee.
C) limits the liability of Mary Roberts.
D) limits the liability of all subsequent holders, including Ricardo.

Question

Quizplus · Accepted Answer

The indorsement "Without Recourse" limits the liability of the indorser, Mary Roberts, meaning she is not liable if the check is not honored.

Ricardo Is the Holder of a Check That Contains the Indorsement