Ricardo is the holder of a check that contains the indorsement "Without Recourse, (signed) Mary Roberts." This indorsement:

A) makes further indorsement impossible.
B) requires a special indorsement by the transferee.
C) limits the liability of Mary Roberts.
D) limits the liability of all subsequent holders, including Ricardo.

Without Recourse

A term indicating that the holder of a financial instrument, such as a note or bill, cannot demand payment from the original issuer in case of default by the borrower.

Indorsement

The act of signing one's name on the back of a check or other negotiable instrument, legally transferring ownership or authorizing a transaction.

Liability

The legal responsibility or obligation to compensate someone else for harm or damage caused by one's actions or failure to act.