About the without recourse

Assignment Help Financial Accounting

Reference no: EM13787520

Pete Payee specially indorses a note payable to his order and also uses the words "without recourse." What is the effect of the words "without recourse" here?

A) None, because Pete has primarily liability on the note

B) Pete has disclaims his secondary liability

C) Pete has disclaimed his liability to make the note good if maker defaults

D) Both B and C are correct

Reference no: EM13787520

Questions Cloud

Job-order costing variables : On July 1, Job 46 had a beginning balance of $1,235. During July, prime costs added to the job totalled $560. Of that amount, direct materials were three times as much as direct labor. The ending balance of the job was $1,921. What was overhead appli..

Paper on organization of law enforcement agencies : Topic: Organization of Law Enforcement Agencies, Do you agree or disagree with the paramilitary style of organization of most law enforcement agencies

What would a competitor of bp now discover about th : THE NEED TO EXAMINE THE EXTERNAL ENvIRONMENT: DISASTER IN THE GULF ONE YEAR LATER The Gulf Coast oil spill disaster not only resulted in oil and tar balls washing up on local beaches but contributed to the evaporation of the wedding busi..

Explain what is meant by nervousness of the mrp schedule : Explain what is meant by "nervousness" of the MRP schedule. Provide an example. Name two tools that are particularly useful in reducing system nervousness in MRP systems.

About the without recourse : Pete Payee specially indorses a note payable to his order and also uses the words "without recourse." What is the effect of the words "without recourse" here?

Learned concerning organizational structure : Applying Structure For the Assignment, you will apply what you have learned concerning organizational structure and conduct research on Volkswagen (VW). You will respond to the three (3) questions listed below the Assignment instructions in an APA fo..

High low method is a reliable calulation : Which of the following statements is the most accurate based on topics covered in our course this semester? the high low method is a reliable calulation for the cost equation. all costs are variable and cannot be estimated

Opportunities and challenges of npos : Opportunities and Challenges of NPOs

User Account

All Pages