Liability in Which a Person Cannot Be Held Contractually Liable

question 38

Multiple Choice

Liability in which a person cannot be held contractually liable on a negotiable instrument unless his or her signature appears on the instrument is referred to as ________.

• A) warranty liability
• B) unqualified liability
• C) contract liability
• D) accommodation

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Definitions:

Management Coefficients Model

A forecasting model that uses managerial judgement to adjust statistical forecasts to take into account unique or unusual events.

Regression

A statistical technique used to model and analyze the relationship between a dependent variable and one or more independent variables.

Historical Managerial Performance

An assessment of past achievements and effectiveness of managers in their professional roles, often used for future planning and development.

Graphical Techniques

Various methods of using graphs, charts, and other visuals to analyze data, present information, or solve problems.