Which of the Following Is True Regarding an Indorser's Liability

question 29

Multiple Choice

Which of the following is true regarding an indorser's liability on a note?

• A)A holder can proceed directly against the indorser without first presenting the note to the maker.
• B)A qualified indorsement by the indorser will not disclaim liability against a holder who takes it in good faith and for value.
• C)For the indorser to be liable,there must be presentment to the maker,dishonor by the maker,and notice to the indorser.
• D)For the indorser to be liable,there need only be presentment to the maker and dishonor by the maker.

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Definitions:

Compounded Quarterly

The process of calculating interest on both the initial principal and the accumulated interest from previous periods on a quarterly basis.

Semi-Annually

Occurring twice a year, typically every six months, often used in the context of payments, interest calculations, or reporting periods.

Compounded Quarterly

An interest calculation method where interest is added to the principal sum of a deposit or loan every quarter, so that each subsequent interest calculation is made on the principal plus previously added interest.