Which of the Following Is True of an Unqualified Indorsement

question 95

Multiple Choice

Which of the following is true of an unqualified indorsement?

• A) The order and liability of the indorsers is presumed to be the order in which they indorse the instrument, unless otherwise agreed.
• B) The first indorser is presumed to be liable for the full amount in the instrument, unless otherwise specifically agreed.
• C) It guarantees payment of the instrument if the maker defaults.
• D) It protects subsequent indorsees from liability.

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Definitions:

Environmental Mastery

The sense that one has the ability to manage or alter the environment to suit their needs, reflecting a high level of personal competence and control.

Self-Acceptance

The process of acknowledging and embracing all aspects of oneself, including strengths and weaknesses.

Social Convoy Theory

Theory, proposed by Kahn and Antonucci, that people move through life surrounded by concentric circles of intimate relationships on which they rely for assistance, well-being, and social support.

Financial Support

Monetary assistance provided to individuals or groups to help cover expenses and maintain financial stability.