Ask Question
23 July, 13:14

True or false

true or false - business law

1. every person who signs a negotiable instrument is liable for payment of that instrument when it comes due.

2. an acceptor is primarily liable on an instrument.

3. warranty liability on a negotiable instrument does not require a signature and extends to both signers and non signers.

4. the dishonor of an instrument relieves secondary parties of liability.

+1
Answers (1)
  1. 23 July, 13:30
    0
    True. Every person who signs a negotiable instrument is liable for payment of that instrument when it comes due. Once a signature is put on the instrument it makes the person liable for payment on it.

    True. An acceptor is primarily liable on an instrument. An acceptor is a bank or someone who promises to pay an instrument it is presented for payment.

    True. Warranty liability on a negotiable instrument does not require a signature and extends to both signers and non signers. A warranty liability comes up when a person is trying to negotiate the instrument.

    False. The dishonor of an instrument relieves secondary parties of liability. If someone is in dishonor of an instrument they are held secondarily liable of the instrument. The notice of dishonor is a formal act letting the party know they are being held secondary liable.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “True or false true or false - business law 1. every person who signs a negotiable instrument is liable for payment of that instrument when ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers