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Endorsement means that: A: if the acceptor is unable to pay the face value on the maturity date, then it is obliged to draw a bill to meet its initial obligations. B: an agreement between the acceptor and an endorser is reached, whereby the acceptor is obliged to pay the face value on the maturity date if the endorser is unable to pay the subsequent holder of the bill. C: the endorser has a contingent liability only until the bill matures. D: None of the above.

Endorsement means that: A: if the acceptor is unable to pay the face value on the maturity date, then it is obliged to draw a bill to meet its initial obligations. B: an agreement between the acceptor and an endorser is reached, whereby the acceptor is obliged to pay the face value on the maturity date if the endorser is unable to pay the subsequent holder of the bill. C: the endorser has a contingent liability only until the bill matures. D: None of the above.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Endorsement means that: A: if the acceptor is unable to pay the face value on the maturity date, then it is obliged to draw a bill to meet its initial obligations. B: an agreement between the acceptor and an endorser is reached, whereby the acceptor is obliged to pay the face value on the maturity date if the endorser is unable to pay the subsequent holder of the bill. C: the endorser has a contingent liability only until the bill matures. D: None of the above.
Transcribed Image Text:Endorsement means that: A: if the acceptor is unable to pay the face value on the maturity date, then it is obliged to draw a bill to meet its initial obligations. B: an agreement between the acceptor and an endorser is reached, whereby the acceptor is obliged to pay the face value on the maturity date if the endorser is unable to pay the subsequent holder of the bill. C: the endorser has a contingent liability only until the bill matures. D: None of the above.
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