Which of the Following Is a Party Who Must Pay

question 14

Multiple Choice

Which of the following is a party who must pay the stated amount of an instrument when it is initially presented for payment?

• A) A party who is secondarily liable.
• B) A party who is a drawer and a party who is secondarily liable.
• C) A party who is an endorser.
• D) A party who is a drawer or an endorser.
• E) A party who is primarily liable.

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Definitions:

Liberal Democracy

A form of democracy emphasizing liberty of individuals.

Liberties of the Individual

The rights and freedoms that belong to each person, which allow for the expression of self and protection from external control or interference.

Natural Rights

Fundamental rights that every individual is born with and cannot be taken away, such as life, liberty, and the pursuit of happiness.

John Locke

A 17th-century English philosopher known for his work on political philosophy, epistemology, and education.