Endorsement Means That

question 86

Multiple Choice

Endorsement means that:

• A)if the acceptor is unable to pay the face value on the maturity date,then it is obliged to draw a bill to meet its initial obligations.
• B)an agreement between the acceptor and an endorser is reached,whereby the acceptor is obliged to pay the face value on the maturity date if the endorser is unable to pay the subsequent holder of the bill.
• C)the endorser has a contingent liability until the bill matures and is paid.
• D)none of the given options.