A(n)________ Is a Party Who Signs an Instrument to Provide

question 45

Multiple Choice

A(n) ________ is a party who signs an instrument to provide credit for another party who has also signed the instrument.

• A)subrogation party
• B)accommodation party
• C)third party beneficiary
• D)incidental beneficiary
• E)intervenor

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Definitions:

Michigan Licensing Requirements

refers to the specific qualifications and criteria set by the state of Michigan for the issuance of professional licenses.

Mirror Image

A principle in contract law that requires the terms of the acceptance to exactly match the terms of the offer.

Quasi-Contract Theory

A legal concept where a court imposes a contractual obligation on a party who has not actually entered into a contract, to prevent unjust enrichment.

Family Relationships

Connections between individuals related by blood, marriage, or adoption, affecting legal rights and responsibilities.