Asked by Stefan Ender on Jun 07, 2024
Verified
Under this country's laws, banks and not individuals are considered endorsers.
A) China
B) Japan
C) Canada
D) Mexico
E) Australia
Endorsers
Individuals or entities that sign the back of a negotiable instrument, such as a check, indicating their approval or transferring ownership.
- Identify the legal consequences of failing to present a check within specified time frames.
Verified Answer
BS
Benton StainsJun 11, 2024
Final Answer :
A
Explanation :
In China, under their commercial laws, banks rather than individuals are considered endorsers when it comes to financial instruments like checks. This is part of the unique aspects of the Chinese banking and legal system, distinguishing it from many Western practices where individuals can also be endorsers.
Learning Objectives
- Identify the legal consequences of failing to present a check within specified time frames.