Which of the Following Is True in the Event an Instrument

question 24

Multiple Choice

Which of the following is true in the event an instrument contains more than one endorsement?

• A) Each endorser is liable for the full amount to the subsequent endorser or to the holder.
• B) Only the last endorser is liable to the holder and no prior endorsers are liable to a subsequent endorser.
• C) Each endorser is liable for the full amount to the subsequent endorser, but only the last endorser is liable to any holder.
• D) The last endorser is liable to the holder, whereas subsequent endorsers are not liable to the holder, but are responsible for reimbursing the last endorser in proportion to the number of endorsers that exist.
• E) Each endorser is liable to the holder in proportion to the number of endorsers that exist.

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Definitions:

Distributors

Entities responsible for distributing products or services from manufacturers to end-users or retail outlets.

High Demand

A market condition where the desire for a product or service greatly exceeds the supply available.

AmazonSupply

An Amazon service aimed at providing businesses with a marketplace for industrial and scientific supplies. Note: As of my last update, AmazonSupply has been rebranded as Amazon Business.

Inventory

A complete list of items such as property, goods in stock, or the contents of a building.