A check was indorsed as follows:
Which of the following will discharge all of the indorsers?
Jessica Hall
Without recourse
Paul Samuels
Collection guaranteed
Melissa Liston
A)notice of dishonor after 30 days' time
B)the "without recourse" indorsement within the chain
C)insolvency of drawer
D)certification of the check

Question

Quizplus · Accepted Answer

Certification of the check will discharge all of the indorsers. When a check is certified by the bank, the bank becomes primarily liable for the payment of the check, and all prior endorsers are discharged from further liability.

A Check Was Indorsed as Follows