Examlex
Perform the division.
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Presentment Warranties
Guarantees made by the presenter of an instrument (e.g., a check) regarding their authority and the validity of the instrument in a financial transaction.
Acceptor
A person (drawee) who accepts and signs a draft to agree to pay the draft when it is presented.
Draft
An instrument validating an order by a drawer to a drawee to pay a payee.
Imposter Rule
A legal principle concerning negotiable instruments which states that if an impostor induces a payor to issue a check made payable to the impostor, the drawer is liable for the amount to a holder in due course.
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