Lack of Understanding or Trust Are the Most Common Reasons

question 146

True/False

Lack of understanding or trust are the most common reasons for resistance to change.

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Definitions:

Without Recourse

A term indicating that the seller of a financial instrument assumes no liability if the instrument fails to perform.

Qualified Endorsement

An endorsement on a negotiable instrument that includes conditions limiting the liability of the endorser.

Special

Distinguished by a unique or particular quality, different from the norm.

Trust Endorsement

An endorsement that is used when the instrument is being transferred to an agent or trustee for the benefit of either the endorser or a third party; gives the endorser the rights of a holder.