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Question
Which of the following is true of the obligations of an acceptor?
A. If the certification or acceptance does not state an amount then the acceptor is free of all obligations.
B. If the certification of a check or other acceptance of a draft states the amount accepted, the obligation of the acceptor is the amount of the instrument at the time a holder in due course takes it.
C. If the certification of a check or other acceptance of a draft states the amount certified or accepted, the obligation of the acceptor is that amount.
D. If the certification or acceptance does not state an amount, or if the amount of the instrument is subsequently raised, then the obligation of the acceptor is the raised amount.
Answer
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Related questions
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