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Dont need to explain just answer 29. Under the Negotiable Instruments Article of the UCC, which of the following statements best describes the effect of
Dont need to explain just answer
29. Under the Negotiable Instruments Article of the UCC, which of the following statements best describes the effect of a person endorsing a check "without recourse?" a. The person has no liability to prior endorsers b. The person makes no promises or guarantee of payment on dishonor C. The person gives no warranty protection to later Transferees d. The person converts the check into order paper 30. Under the Negotiable Instruments Article of the UCC, which of the following instruments meets the negotiability requirement of being payable on demand or at a definite time? a. A promissory note payable one year after a person marriage b. A promissory note payable June 30, year 1, whose holder can extend the time of payment until the following June 30 if the holder wishes C. A promissory note payable June 30, year 1, whose maturity can be extended by the maker for a reasonable time d. An undated promissory note payable one month after date 31. One of the requirements to qualify as a holder of a negotiable bearer check is that the transferee must a. Receive the check that was originally made payable to bearer b. Take the check in good faith c. Give value for the check d. Have possession of the checkStep by Step Solution
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