i have two questions i'm struggling with:
1. The customary manner of disclaiming the indorser's contractual liability is to add which of the following sets of words before or after his signature?
a. for collection only
b. without recourse
c. pay to the order of
d. for deposit only
it should be D am i right?
and this question I just don't get the wording:
Assuming a note made by barbara payable to carol, which endorsement will limit negotiability?
a. "Pay Al. Carol."
b. "for deposit only, acct. #602-043. Carol."
c. "Pay Connie for Al. Carol."
d. "Pay Claudia as attorney for John Jones. Carol."
1. The customary manner of disclaiming the indorser's contractual liability is to add which of the following sets of words before or after his signature?
a. for collection only
b. without recourse
c. pay to the order of
d. for deposit only
it should be D am i right?
and this question I just don't get the wording:
Assuming a note made by barbara payable to carol, which endorsement will limit negotiability?
a. "Pay Al. Carol."
b. "for deposit only, acct. #602-043. Carol."
c. "Pay Connie for Al. Carol."
d. "Pay Claudia as attorney for John Jones. Carol."