Shared Flashcard Set

Details

Title

Holder vs. Drawee

Description

No Relationship Unless Certification

Total Cards

Subject

Law

Level

Graduate

Created

12/18/2013

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Additional Law Flashcards

Term

Holder has no power to make the drawee pay, unless _______

Definition

certification

Term

If certification __________ liable for ________ damages.

Definition

drawee = liable
consequential damages

Term

If certification of a check, drawer __________. if certification of another type of draft, drawer NOT _________.

Definition

discharged
discharged

Term

If certification, drawee becomes _________. Therefore, if drawee refuses to pay, he is ________ to holder or payee.

Definition

acceptor
liable