If a discounted note is dishonored, the original holder of the note may be liable for payment
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If a discounted note is dishonored, the original holder of the note may be liable for payment unless the note was endorsed without recourse. This lia¬ bility is called contingent liability.
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College Accounting A Practical Approach Chapters 1-26
ISBN: 9780130911421
8th Edition
Authors: Jeffrey Slater
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