Which of the Following Is a Type of Liability on an Instrument

question 59

Multiple Choice

Which of the following is a type of liability on an instrument arising when the transfer of the instrument breaches a warranty associated with the instrument?

• A) Warranty liability.
• B) Payee liability.
• C) Signature liability.
• D) Primary liability.
• E) Secondary liability.

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Definitions:

Myelin

Fatty material produced by neuroglial cells; insulates axons and thus speeds conduction of action potentials.

Neuroglial Cells

Supportive cells in the nervous system that provide insulation, nutrients, and structural support for neurons, and participate in signal transmission.

Myelin

A fatty covering that insulates nerve fibers in the brain, spinal cord, and peripheral nerves, speeding the transmission of nerve impulses.

Action Potential

A rapid rise and subsequent fall in voltage or membrane potential across a cellular membrane, a process allowing neurons to transmit signals.