Generally,indorsers Are Not Liable Under Signature Liability If

question 28

Multiple Choice

Generally,indorsers are not liable under signature liability if

• A)they write the words "without recourse" next to their signatures on the instrument.
• B)they are not the drawee.
• C)a check is presented for payment within 30 days after the indorsement.
• D)they are an accommodation party.

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Definitions:

Marginal Cost

The cost of producing one additional unit of a product or service.

Average Variable Cost

Average Variable Cost is the variable cost per unit of output, calculated by dividing total variable costs by total output, illustrating how variable costs change with output levels.

Output

The total amount of goods or services produced by a person, machine, factory, country, etc., within a particular time period.

Marginal Product

The additional output generated by employing one more unit of a factor of production.