Which of the Following Statements Is True of Primary Liability

question 7

Multiple Choice

Which of the following statements is true of primary liability on a check when it is issued?

• A) The payee is primarily liable on it.
• B) The drawer is primarily liable on it.
• C) The drawee bank is primarily liable on it.
• D) No party is primarily liable on it.

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Definitions:

New Windows

In a computer context, it refers to the latest version or release of the Microsoft Windows operating system. Alternatively, it can refer to physical window installations in a building.

Restitution

The act of restoring or compensating for loss or damage incurred, often involving the return of property or payment of money to the rightful owner.

Injunction

A legal order from a court requiring a person to do or refrain from doing a specific action.

Pharmacy

A place where drugs and medicines are prepared and dispensed by a licensed pharmacist.