_____ Indorsements Indicate That They Are Effective Only If the Payee

question 18

Multiple Choice

_____ indorsements indicate that they are effective only if the payee satisfies a certain condition.

• A) Special
• B) Conditional
• C) Qualified
• D) Blank

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Definitions:

Limited Partners

Individuals in a partnership who have limited liability to the extent of their investment in the company and do not participate in day-to-day management.

Limited Partner

A partner in a business venture who doesn't participate in daily operations and whose financial responsibility is capped at their investment level.

Limited Partnership

A limited partnership is a business structure with at least one general partner, who manages the business and is fully liable, and one or more limited partners, whose liability is restricted to their investment.

Limited Partner

An investor in a partnership who has limited liability to the extent of their investment and does not take part in day-to-day management.