Acceptance of a Draft by a Bank Discharges Prior and Subsequent

question 14

True/False

Acceptance of a draft by a bank discharges prior and subsequent indorsers.

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Definitions:

Liability

A legal responsibility or obligation, which can be in the form of debts or obligations arising from contracts, or as a result of violating laws and causing harm.

Appropriation

The act of setting aside funds for a specific purpose or the unauthorized use of someone's name, likeness, or work without permission.

Intrusion

An unauthorized entry or encroachment into someone else's property or personal affairs.

Defamation

The act of making false statements about another person, causing harm to their reputation.