A Drawer Is Liable to the Holder of a Check

question 15

True/False

A drawer is liable to the holder of a check if the check is not honored.

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Definitions:

Member-Managers

Individuals in a limited liability company (LLC) who are both owners (members) and actively involved in managing the day-to-day operations.

Power To Dissociate

The legal ability of a partner or member to separate from a partnership or other business entity under specific conditions.

Limited Liability Company

A limited liability company (LLC) is a business structure allowed by state statutes that protects its owners from personal responsibility for its debts or liabilities.

Joint Venturers

Business entities or individuals that collaborate on a specific project or business activity, sharing both the risks and rewards.