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Lloyd indorses a check "Pay to Erin, without recourse," [signed] Lloyd. The legal effect this indorsement has on Lloyd is:
a. that Lloyd is now liable for Erin's debts.

b. none at all.

c. that Lloyd is relieved of all liability on the check

Respuesta :

josephsmith041496

Answer:

C. That Lloyd is relieved of all liability on the check.

Explanation:

The 'without recourse' indorsement is one qualified indorsement that does well in exposing Lloyd of further liability on that check.

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