Warranty liability is based on signature; thus, it may not be imposed on nonsigners.
Correct Answer:
Verified
Q1: An accommodation party is a direct beneficiary
Q4: In order for a notice of dishonor
Q4: Presentment for payment is one step necessary
Q7: Authorized agents cannot execute negotiable instruments on
Q11: The condition precedent to the liability of
Q12: Failure to give notice of dishonor will
Q18: "Presentment" is necessary within 10 days of
Q28: A drawee bank's refusal to certify a
Q35: Indorsers of all instruments incur primary liability
Q38: An unauthorized signature may bind a principal
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents