Asked by
Ember Leifheit
on Nov 28, 2024
Verified
Because he or she was in the best position to prevent wrongdoing with respect to an instrument, transfer and presentment warranties attempt to shift liability to
A) the drawee or payee on an instrument.
B) the holder of an unauthorized item when the wrongdoing is discovered.
C) the party on whose account an unauthorized item is made or drawn.
D) the person who dealt face to face with the wrongdoer.
Presentment Warranties
Guarantees made by the presenter of a negotiable instrument, such as a check, regarding the legitimacy and authority to transfer the instrument.
Liability
The state of being responsible for something, especially in terms of legal or financial obligations.
- Comprehend the functions and duties of stakeholders in negotiable instruments.
- Determine and elucidate the legal implications of warranties and defenses within the scope of negotiable instruments.
Verified Answer
DZ
Learning Objectives
- Comprehend the functions and duties of stakeholders in negotiable instruments.
- Determine and elucidate the legal implications of warranties and defenses within the scope of negotiable instruments.