Examlex
In testing a proportion, which of the following statements is incorrect?
Accommodation Indorser
A party who endorses a negotiable instrument for the purpose of lending their credit to another party without direct benefit.
Contractual Liability
Contractual liability involves obligations that a party has agreed to assume in a contract, making them legally responsible for fulfilling the terms of the agreement.
Transfer Warranty
A guarantee in legal documents, especially in sales of goods, assuring the recipient that the transferor has valid title and that the transfer is rightful.
Presentment Warranty
Assurance given in a transaction that certain facts are true as of the time of the deal, generally related to financial instruments.
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