Examlex
Which of the following is an explicit cost in Jim's business venture?
Warranty Liability
The legal obligation of a seller to provide compensation for defects or failures in goods or services that are covered under a warranty.
Indorsement
A signature or annotation on a financial document, such as a check, that specifies the terms of transferring the document’s rights to another party.
Subsequent Holder
An individual or entity that acquires a negotiable instrument, like a check or promissory note, after it has been issued or transferred.
Transfer Warranties
Legal assurances given by a seller to a buyer regarding the title, quality, and condition of goods or property being sold.
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