Asked by Hector Villagomez on May 03, 2024
Verified
Who is primarily liable on a note?
A) The maker.
B) The indorsers.
C) The drawee bank.
D) The holder.
Maker
The individual or entity that creates or signs a negotiable instrument, committing themselves to pay a specified amount of money to the payee or holder.
Primarily Liable
The primary obligation or responsibility to fulfill a debt or legal duty before others are considered liable.
Indorsers
Individuals who sign a negotiable instrument, other than as its maker, drawer, or acceptor, thereby assuming liability to future holders.
- Discern the fine distinctions in the obligations of creators, signatories, and guarantors.
Verified Answer
Learning Objectives
- Discern the fine distinctions in the obligations of creators, signatories, and guarantors.
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