Author Question: Explain liabilities for payment of instrument[br][br][b][color=#566D7E]Question ... (Read 31 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
Explain liabilities for payment of instrument

Question 2

The major purpose of field warehousing is to:
 A) create warehouse receipts that the owner can pledge as security for loans.
 B) create additional space in the firm's own warehouse.
 C) allow warehousers an opportunity to service common carriers.
 D) transfer title to buyers without requiring them to pick up merchandise at the plant's location.



chjcharjto14

  • Sr. Member
  • ****
  • Posts: 342
Answer to Question 1

By making an indorsement, an indorser, with the exception of a qualified indorser, agrees to pay any subsequent holder the face amount of the instrument if the holder presents the instrument to the primary party when due, and the primary party refuses to pay. The holder must then give the indorser in question notice of such default. This notice may be given orally, or it may be given by any other means, but it must be given before midnight of the third full business day after the day on which the default occurs.

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

For a complete list of videos, visit our video library