Which of the Following Is True Regarding an Indorser's Liability

question 29

Multiple Choice

Which of the following is true regarding an indorser's liability on a note?

• A)A holder can proceed directly against the indorser without first presenting the note to the maker.
• B)A qualified indorsement by the indorser will not disclaim liability against a holder who takes it in good faith and for value.
• C)For the indorser to be liable,there must be presentment to the maker,dishonor by the maker,and notice to the indorser.
• D)For the indorser to be liable,there need only be presentment to the maker and dishonor by the maker.

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Definitions:

Waiting Time

The duration of time a person or item spends waiting before a service begins or an event happens.

Degrees of Freedom

The quantity of distinct values or measures that can be attributed to a statistical distribution.

Area

A measure of the extent of a surface or a region, usually expressed in square units.

F Distribution

A probability distribution used in analysis of variance (ANOVA), for comparing sample variances to determine if they come from populations with equal variances.