Which of the Following Is True Regarding a Transferor's Liability

question 38

Multiple Choice

Which of the following is true regarding a transferor's liability on a transfer warranty?

• A)The warranties apply only when the transfer was accompanied by the transferor's indorsement.
• B)The transferor is liable only after presentment to the drawee or a primarily liable party,followed by that party's dishonor.
• C)It applies even when there was no consideration for the transfer.
• D)If the transfer was by indorsement,the warranty extends to all subsequent transferees,and not just the immediate transferee.

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