Textile Inc. sells goods to United Stores in exchange for a note signed by the buyer. Textile sells the note to Valley Finance Company. In this situation, transfer warranties arise because a.Valley has no knowledge of any bankruptcy proceedings against United. b.the signatures on the note were authentic and authorized. c.Textiles did not alter the note. d.the note was transferred for consideration.

Transfer warranties are legal concepts that pertain to the transfer of negotiable instruments, such…

Answered: Textile Inc. sells goods to United…

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	a.	Valley has no knowledge of any bankruptcy proceedings against United.
	b.	the signatures on the note were authentic and authorized.
	c.	Textiles did not alter the note.
	d.	the note was transferred for consideration.