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18 January, 02:13

ransfer of an order instrument by indorsement and delivery warranty liability to any subsequent holder who takes the instrument in good faith.

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  1. 18 January, 02:34
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    Correct/Complete Question: Transfer of an order instrument by indorsement and delivery warranty liability to any subsequent holder who takes the instrument in good faith. True or False

    Answer:

    True

    Explanation:

    A warrant liability can also be called a borrower's liability and it is the responsibility incurred by a borrower on a borrowed instrument.

    When an instrument is transferred to a borrower by indorsement, the borrower has the warrant liabilty extended to him. When the instrument transferred is not done with indorsement, only the lender has the warranty liability.

    Cheers.
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