A Party Who Is ________ Liable Is Responsible for Paying

question 3

Multiple Choice

A party who is ________ liable is responsible for paying the amount designated on an instrument if the primarily liable party defaults.

• A)primarily
• B)secondarily
• C)customarily
• D)statutorily
• E)strictly

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Definitions:

Hypotheses

Proposed explanations or predictions that can be tested through research and experimentation.

T-statistic

A type of statistic used to estimate the population parameter based on a sample statistic.

Sample Means

The average values obtained from multiple small groups (samples) taken from a larger population, used in statistical analyses.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values.