An Indorser Who Does Not Wish to Be Liable on an Instrument

question 60

True/False

An indorser who does not wish to be liable on an instrument can use a qualified indorsement to disclaim this liability.

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Definitions:

Statement Of Income

A financial statement showing a company's revenues, expenses, and net profit or loss over a specific period.

Purchase Returns

Goods returned by the buyer to the seller due to defects, excess supply, or other reasons.

Sales Discount

A reduction in the price of goods or services offered to customers, typically to prompt early payment or bulk purchases.