Asked by Rimiya Sharma on May 28, 2024
Verified
Warranties on presentment are the same regardless of who is the payor or acceptor.
Warranties On Presentment
Guarantees made concerning the validity, authenticity, and condition of a negotiable instrument when it is presented for payment or acceptance.
Payor
A payor, in financial transactions, is the party that makes a payment to another party, the payee, often in fulfillment of an obligation such as a bill, loan, or settlement.
Acceptor
The party who agrees to pay a bill of exchange, such as a draft or check, upon its presentation.
- Familiarize oneself with the concept of warranties and the accountabilities of transferors and presenters.
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Learning Objectives
- Familiarize oneself with the concept of warranties and the accountabilities of transferors and presenters.
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