What Is Needed for a Party to Be Considered Secondarily

question 68

Multiple Choice

What is needed for a party to be considered secondarily liable on an instrument?

• A) The instrument must be properly presented for payment.
• B) The instrument is dishonored.
• C) The notice of dishonor must be timely.
• D) The notice of dishonor must be given to the person to be held secondarily liable.
• E) All of these are correct.

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Definitions:

Cloud Computing

Internet-based computing that provides shared processing resources and data to computers and other devices on demand.

Broad Network

A broad network typically refers to a wide-reaching network infrastructure that connects multiple devices, systems, or regions, facilitating communication and data exchange.

Virtualization

The process of creating a virtual version of something, such as a hardware platform, operating system, storage device, or network resources.

IT Environment

The combination of hardware, software, network resources, and services required for the operation and management of an enterprise IT infrastructure.