Equitable Remedies Include Rescission and Restitution

question 4

True/False

Equitable remedies include rescission and restitution.

---

Definitions:

Subsequent Holder

An individual or entity that obtains a negotiable instrument after its initial issuance, under certain conditions that preserve the instrument's negotiable status.

Indemnity

A primary obligation of a third party to pay a debt along with the debtor

Subrogation

The right of the insurer upon payment to take over the rights of the insured in relation to whoever caused the injury.

Guarantor

A person assuming obligation to pay if the debtor does not.