The Acceptor's Obligation

question 50

Multiple Choice

The acceptor's obligation:

• A) extends to a person entitled to enforce the draft.
• B) does not extend to the drawer.
• C) extends to an indorser who does not pay the instrument pursuant to the indorser's liability.
• D) does not extend to the indorser who paid the instrument.

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Definitions:

Aquifers

Underground layers of rock or sediment that hold groundwater, which can be extracted using wells.

Subsidence

Occurs when a portion of Earth’s surface gradually settles downward.

Saltwater Intrusion

The movement of saline water into freshwater aquifers, which can lead to contamination of drinking water sources and other consequences.

Dams

Structures built across rivers or streams to control water flow, used for water storage, flood prevention, and electricity generation.