When a Note Is Discounted to a Bank Without Recourse

question 129

True/False

When a note is discounted to a bank without recourse, the bank assumes the risk of a bad debt loss and the original payee doesn't have a contingent liability.

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Definitions:

Art Projects

Creative endeavors that involve making artistic works, which can vary broadly in medium and scope, often used in educational settings to foster creativity and expression.

Formal Games

Structured games with set rules and objectives, often distinguished from informal or spontaneous play.

Playing Checkers

Engaging in a two-player board game that involves strategic moves to capture the opponent's pieces.

Functional Play

Play involving repetitive large muscular movements.