In order to ensure the negotiability of commercial paper,the UCC assumes as warranties in every endorsement that all prior parties were qualified to enter into a legally binding contract.
Correct Answer:
Verified
Q1: The use of a qualified endorsement affects
Q5: When the holder of commercial paper signs
Q11: Presentment of commercial paper must always be
Q14: When an endorsement is made to the
Q15: Fraud in executing an instrument is a
Q16: An endorsee is the person who writes
Q17: If fraud was used to induce a
Q18: An incompetent person who makes, signs, and
Q18: A signature to which words have been
Q20: A defense against payment of commercial paper
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