What parties can be liable under secondary liability

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What parties can be liable under secondary liability? Drawers Acceptor Makers A bank Assessment questionLola holds a negotiable instrument for a while and indorses it as she transfers it to another party. A year after this occurs, an attorney contacts Lola and states Lola is liable for the amount of the instrument. What would have to occur before Lola is liable and must pay the amount of the instrument? Choose 2 answer choices. The bank refused to pay the payment due. All other parties involved are insolvent. The holder presented the instrument to the drawee. As an acceptor, Lola has automatic liability.Nicole transferred a negotiable instrument to Andy. Andy later sues Nicole alleging a breach of presentation warranty. What could Andy claim Nicole has violated? Andy could allege that Nicole knew Andy would not pay for the instrument. Andy could allege that Nicole knew the instrument was not free from defenses or claims against the transferor. Andy could allege that Nicole was aware of an unauthorized signature. Andy could allege that Nicole knew of bankruptcy proceedings regarding one of the parties involved.

Reference no: EM133672129

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