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A person who transfers a negotiable instrument to another for consideration warrants that: the instrument is altered. he or she is aware of insolvency proceedings

A person who transfers a negotiable instrument to another for consideration warrants that:

the instrument is altered.

he or she is aware of insolvency proceedings commenced with respect to the maker.

the instrument is subject to a defense or claim in recoupment.

the signatures on the instrument are authentic and authorized.

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