A(n)________ Is an Indorsement That Includes the Notation "Without Recourse

question 42

Multiple Choice

A(n) ________ is an indorsement that includes the notation "without recourse" or similar language that disclaims liability of the indorser.

• A)qualified indorsement
• B)unqualified indorsement
• C)promissory indorsement
• D)competent indorsement

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Definitions:

Double Markup

A pricing strategy where a product is marked up twice before it reaches the final consumer: first by the wholesaler then by the retailer, leading to a higher final price.

Upstream Firms

Companies involved in the early stages of production or supply chain, such as raw material extraction or initial processing, before manufacturing.

Double Marginalization

A scenario in which two or more firms at different stages of a supply chain apply their own markups, leading to inefficiencies and inflated prices for consumers.

Retail Price

The cost at which goods or services are sold to the public, typically higher than the wholesale price to include a markup for profit.