An Indorser Who Writes "Without Recourse" Above Her Signature on a Negotiable

question 24

True/False

An indorser who writes "without recourse" above her signature on a negotiable instrument is not liable for payment.

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Definitions:

Checking Account

A bank account that allows the holder to deposit and withdraw money, and write cheques for payment.

Histogram

A graphical representation of the distribution of numerical data, where the data is divided into bins and the frequency of the data in each bin is depicted through the height of the bar.

IQR

Interquartile Range, a measure of variability that indicates the spread of the middle 50% of a dataset.

Standard Deviation

An indicator of the range of variability or spread within a series of numbers, showing the extent to which these numbers deviate from the average.