Which of the following actions does not discharge a prior party to a commercial instrument? (a) Good-faith
Question:
Which of the following actions does not discharge a prior party to a commercial instrument?
(a) Good-faith payment or satisfaction of the instrument
(b) Cancellation of that prior party’s indorsement
(c) The holder’s oral renunciation of that prior party’s liability (d) The holder’s intentional destruction of the instrument
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The correct answer is c The holders oral renunciation of that prior partys liability Out of the opti...View the full answer
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Related Book For 
Essentials Of Business Law
ISBN: 9781337404198
6th Edition
Authors: Jeffrey F Beatty, Susan S Samuelson
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