Which of the Following Type of Liability Establishes That the Party

question 49

Multiple Choice

Which of the following type of liability establishes that the party must pay the amount due on the instrument if the primarily liable party defaults?

• A) A party who has transfer liability.
• B) A party who has acceptor liability.
• C) A party who has maker liability.
• D) A party who has secondary liability.
• E) A party who has recognition liability.

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Definitions:

Visual Plan

A representation of strategies and goals in visual formats, such as charts, graphs, or diagrams, to facilitate understanding and communication.

Business Model Canvas

A strategic management template used for developing new or documenting existing business models. It outlines nine key segments including customer segments, value propositions, and revenue streams.

Business Idea

A concept that can be used for commercial purposes, usually centering around a product or service that can be offered for money.

Value Proposition

A statement that summarizes why a consumer should buy a product or use a service, highlighting the unique value the product or service provides.