Asked by Sierra Beets on Jun 14, 2024
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.
Verified Answer
Learning Objectives
- Understand the concept of warranties and the responsibilities of transferors and presenters.
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