Which of the Following Is True Regarding Liability on Negotiable

question 83

Multiple Choice

Which of the following is true regarding liability on negotiable instruments?

• A)Makers and acceptors are primarily liable for a negotiable instrument,while drawers and endorsers are secondarily liable
• B)Drawers and endorsers are primarily liable for a negotiable instrument,while makers and acceptors are secondarily liable
• C)Makers and drawers are primarily liable for a negotiable instrument,while acceptors and endorsers are secondarily liable
• D)Acceptors and endorsers are primarily liable for a negotiable instrument,while makers and drawers are secondarily liable
• E)Makers,acceptors,drawers,and endorsers are all secondarily liable for a negotiable instrument.

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Definitions:

Medium Of Exchange

Anything that facilitates trade by being generally accepted by all parties in payment for goods or services.

Facilitates Trade

Actions or policies designed to make trade between countries or parties easier, typically through reducing barriers such as tariffs and quotas.

Barter

The direct exchange of one product for another without using money.

Medium Of Exchange

Anything that is widely accepted as a means for the payment of goods and services and repayment of debts.