Which of the following statements regarding instrument liability ...

[Kthamas]

Which of the following statements regarding instrument liability is TRUE?
 A)The holder of an instrument must first ask for payment from those who are secondarily liable.
 B)For any given instrument, only one person can be liable at a time.
 C)A person with primary liability is unconditionally liable and must pay unless he or she has a valid defense.
 D)A person with secondary liability has the same liability to the holder as a person with primary liability.

Question 2

The purpose of the bill of lading is to:
 A) transfer title of the goods to the freight forwarder.
 B) prevent shipping delays.
 C) enable the seller to transfer title of the goods to the buyer and receive payment.
 D) none of the above.

[mjbamaung]

Answer to Question 1

C

Answer to Question 2

C

[Kthamas]

Thanks for the timely response, appreciate it

[shailee]

YES! Correct, THANKS for helping me on my review