Which of the Following Type of Liability Establishes That the Party

question 61

Multiple Choice

Which of the following type of liability establishes that the party must pay the amount due on the instrument if the primarily liable party defaults?

• A)A party who has secondary liability.
• B)A party who has maker liability.
• C)A party who has acceptor liability.
• D)A party who has recognition liability.
• E)A party who has transfer liability.

---

Definitions:

Countertrade

A form of international trade in which goods or services are exchanged directly for other goods or services without using a medium of exchange, such as money.

Mining Equipment

Tools, machinery, and vehicles used in the operation of extracting minerals, metals, and other valuable materials from the earth.

Direct Exporting

A method of entering a foreign market by selling products directly to customers in another country without using intermediaries.

Export Trading Companies

Firms that specialize in international trade, providing services such as market research, distribution, logistics, and financial support to exporters.