Asked by Shiva Ghahramani on Jul 05, 2024
Verified
A person cannot be liable for payment on a negotiable instrument on the basis of signature liability unless he or she has signed it personally.
Signature Liability
The legal responsibility that comes from the act of signing a document, indicating agreement or consent to its terms and conditions.
Liable
Responsible by law; legally answerable for one's actions or inactions.
Personally
Refers to something done by a person directly, without the involvement of anyone else or any intermediaries.
- Assess the scope of liability for remittance in a negotiable instrument.
Verified Answer
OS
Owais ShahzadaJul 09, 2024
Final Answer :
False
Explanation :
A person can be liable on a negotiable instrument not only by personally signing it but also if their authorized representative signs it on their behalf.
Learning Objectives
- Assess the scope of liability for remittance in a negotiable instrument.