menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Business Law Study Set 1
  4. Exam
    Exam 24: Liability,Defenses and Discharge
  5. Question
    An Accommodation Party That Signs an Instrument Guaranteeing Payment Is
Solved

An Accommodation Party That Signs an Instrument Guaranteeing Payment Is

Question 1

Question 1

Multiple Choice

An accommodation party that signs an instrument guaranteeing payment is ________ on the instrument.


A) not liable
B) primarily liable
C) secondarily liable
D) limited with respect to liability

Correct Answer:

verifed

Verified

Related Questions

Q2: Drawers of checks and drafts and unqualified

Q4: Unqualified indorsers must pay any dishonored instrument

Q5: Someone can have warranty liability on an

Q6: Terry has a business in which he

Q7: A qualified indorser will incur secondary,rather than

Q8: Before a party can be held secondarily

Q9: The accommodation indorser is primarily liable on

Q10: An accommodation party who pays an instrument

Q16: Martha is elderly,does not speak or read

Q39: What is the consequence of a defense

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2026) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines