Asked by pizza and spagghetti on May 20, 2024

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Verified

Usually,who may have the power to surrender the instrument if full payment is made?

A) Indorser
B) Accommodation maker
C) Party to whom the holder presents the instrument
D) Drawer

Surrender

The act of giving up something or yielding possession, often under duress or in compliance with a legal requirement.

Instrument

in legal and financial contexts, refers to a formal document, such as a contract, will, promissory note, or financial security.

Full Payment

The complete settlement of an obligation or debt without any outstanding balance.

  • Determine the circumstances in which a party is released from responsibility regarding a negotiable instrument.
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Verified Answer

AM
Andrew MacIsaacMay 23, 2024
Final Answer :
C
Explanation :
The party to whom the holder presents the instrument,without dishonoring the instrument,may surrender the instrument if full payment is made.