Deeds Do Which of the Following

question 233

Multiple Choice

Deeds do which of the following:

• A) identify the original owner
• B) describe the land
• C) identify the new owner
• D) state that ownership is being transferred
• E) all of the other specific choices are correct

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Definitions:

Contractual Liability

The responsibility and obligations that a party is subject to under the terms of a contract.

Without Recourse

A phrase indicating that the holder of a financial instrument cannot demand payment from the originator if the instrument fails to pay.

Indorser

A person or entity that signs the back of a negotiable instrument, thereby transferring ownership or guaranteeing payment to another party.

Negotiable

A term that describes the transferable nature of certain documents or instruments, such as checks, which can be legally and freely passed from one party to another.