The Implied Warranties of an Unqualified Indorser Do Not Include

question 45

Multiple Choice

The implied warranties of an unqualified indorser do not include a guarantee that:

• A) payment of the instrument will be made.
• B)the account of the drawer in the drawee bank contains funds sufficient to cover the check.
• C)both a.and b.
• D)neither a.nor b.

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Definitions:

Shareholder Meeting

is a gathering of a company's shareholders, held to discuss the company's performance, elect the board of directors, and make other decisions affecting the company.

Adequate Compensation

Fair and reasonable payment or reimbursement for services, losses, or expenses incurred.

Legal Requirements

Obligatory laws or regulations that individuals or entities must adhere to.

Secretary of State

A high-ranking official in the federal government responsible for foreign affairs and also a key title within state governments in the U.S., overseeing various administrative duties.