An accommodation party on a negotiable instrument:
A) must receive consideration.
B) is secondarily liable on the instrument.
C) is the same as a "guarantor" under the UCC.
D) has the same liability to a holder as the person for whom he signed.

Question

Quizplus · Accepted Answer

An accommodation party signs a negotiable instrument to lend their credit to another party without receiving consideration, and they have the same liability to a holder as the person for whom they signed.

An Accommodation Party on a Negotiable Instrument