The words without recourse on an indorsement means the indorser is:A) liable personally,but not other parties.B) not liable for any problems associated with the instrument.C) not liable if the instrument is dishonored.D) liable for only up to fifty per cent of the loss.

Question

Angela Benedetti · Accepted Answer

Final Answer : C, Explanation :  Without recourse in an indorsement means the indorser is not liable if the instrument is dishonored, effectively removing their personal liability in the event that the instrument cannot be paid.

The words "without recourse" on an indorsement means the indorser is:

A) liable personally,but not other parties.
B) not liable for any problems associated with the instrument.
C) not liable if the instrument is dishonored.
D) liable for only up to fifty per cent of the loss.

Definitions

Learning Objectives

Learning Objectives

Related questions

The words "without recourse" on an indorsement means the indorser is:A) liable personally,but not other parties.B) not liable for any problems associated with the instrument.C) not liable if the instrument is dishonored.D) liable for only up to fifty per cent of the loss.

Definitions

Learning Objectives

Learning Objectives

Related questions

The words "without recourse" on an indorsement means the indorser is:

A) liable personally,but not other parties.
B) not liable for any problems associated with the instrument.
C) not liable if the instrument is dishonored.
D) liable for only up to fifty per cent of the loss.