Sharon purchases goods by telephone from Peter. Sharon has never met Peter. Bart goes to Sharon and pretends to be Peter. Sharon draws a check payable to the order of Peter and gives the check to Bart, believing him to be Peter. Bart forges Peter's indorsement and indorses the check to his brother, Walter, with the term "without recourse." Walter then cashes the check at a liquor store. Under the imposter rule, who is liable on the check? Select one: A. The liquor store B. Walter C. Sharon D. Bart Which of the following qualifications renders a person a holder in due course of a negotiable instrument? A. They are in possession of an instrument issued in their name. B. They take the negotiable instrument for value. C. They are subject to claims and defenses against the transferor. D. They are in possession of an instrument issued in another's name. Clear my choice Mary borrows $15,000 from Bobby, in the form of a check, and signs a promissory note, promising to pay Bobby this amount plus 10 percent interest in one year. Bobby indorses the note and negotiates it to Dean. Dean indorses the note and negotiates it to Sam. Sam presents the note to Mary for payment when the note is due. Mary refuses to pay the note. Who is secondarily liable to pay Sam? Select one: A. Dean B. Mary C. The bank that issued the check to Bobby D. Bobby Calvin, a college student, wants to purchose an automobile on credit from IronTiit Motors. He does not have sufficient income or the credit history to justify the extension of credit to him alone. Calvin asks his father to co-sign a note to lronTilt Motors, which he does. What role does Calvin's father fulfill here so that Calvin can buy the car? A. An accommodation party. B. An agent. C. A principal. D. A qualified indorser