Absolute Liability to Pay a Negotiable Instrument, Subject to Certain

question 8

Multiple Choice

Absolute liability to pay a negotiable instrument, subject to certain universal or real defenses is known as ________.

• A) primary liability
• B) secondary liability
• C) warranty liability
• D) signature liability

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Definitions:

Survival

The state of continuing to live or exist, typically in spite of an ordeal, danger, or hardship.

Emotions

Complex psychological states that involve physiological arousal, expressive behaviors, and conscious experience.

Observable Behaviours

Actions or reactions of an individual, in response to external or internal stimuli, that are visible and measurable.

Psychological Processes

Internal operations that underpin cognitive functions such as perception, memory, and thinking.