Asked by Sierra Beets on Jun 14, 2024

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Verified

Transferor's warranties and presenter's warranties are implied warranties imposed only on those who sign an instrument.

Transferor's Warranties

Guarantees made by a seller (transferor) to a buyer about the condition, legality, and ownership status of the goods or property being sold.

Presenter's Warranties

Guarantees made by the presenter of a negotiable instrument, such as a check, regarding its legitimacy and their authority to present it.

Implied Warranties

Legal guarantees assumed in a transaction, suggesting that a product will meet certain standards even if not explicitly stated.

  • Understand the concept of warranties and the responsibilities of transferors and presenters.
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Verified Answer

GS
Gurnoor SinghJun 18, 2024
Final Answer :
False
Explanation :
Transferor's warranties and presenter's warranties can apply to parties who transfer or present an instrument for payment, respectively, even if they do not sign the instrument. These warranties are not limited solely to signatories.