A check was indorsed as follows:
Jessica Hall
without recourse
Paul Samuels
Collection guaranteed
Melissa Liston

Which of the following will discharge all of the indorsers?
A) Notice of dishonor.
B) The “without recourse” indorsement within the chain.
C) Insolvency of drawer.
D) Certification of the check.

Question

A check was indorsed as follows:
	Jessica Hall
	without recourse
	Paul Samuels
	Collection guaranteed
	Melissa Liston

Which of the following will discharge all of the indorsers?
A)	Notice of dishonor.
B)	The “without recourse” indorsement within the chain.
C)	Insolvency of drawer.
D)	Certification of the check.

Quizplus · Accepted Answer

Certification of the check discharges all indorsers because it signifies that the bank has accepted the check and will pay it, thus releasing indorsers from liability.

A Check Was Indorsed as Follows