Revised UCC Article 3 Refers to Drawers, Indorsers, and Accommodation

question 36

True/False

Revised UCC Article 3 refers to drawers, indorsers, and accommodation parties as "secondary obligors."

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Definitions:

Mexican Cession

A territory of present-day California, Nevada, Utah, Arizona, New Mexico, Colorado, and Wyoming that Mexico ceded to the United States in 1848 under the Treaty of Guadalupe Hidalgo.

Mexico

A country in North America, known for its rich cultural heritage, diverse landscapes, and history that encompasses ancient civilizations, colonial periods, and modern development.

Nativism

The political policy of promoting the interests of native inhabitants against those of immigrants, including by supporting immigration-restriction measures.

Liberty Party

Abolitionist political party that nominated James G. Birney for president in 1840 and 1844; merged with the Free Soil Party in 1848.