What Type of Liability Occurs When a Person Signs a Negotiable

question 53

Multiple Choice

What type of liability occurs when a person signs a negotiable instrument?

• A)Warranty
• B)Payee
• C)Signature
• D)Primary
• E)Secondary

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Definitions:

Tight-loose Distinction

The concept indicating the level of strictness or flexibility in the social norms and rules of a society or organization.

Values

A broad tendency to prefer certain states of affairs over others.

States of Affairs

The current conditions or situations regarding a particular matter or context.

Collectivist Nations

Countries where societal cohesion and the interdependence of individuals are considered core values, emphasizing the needs and goals of the group over those of the individual.