LIABILITY AND DISCHARGE
In this course, you will learn the following:
1. The liability of an agent who signs commercial paper.
2. What contract liability is imposed when a person signs commercial paper.
3. What warranty liability is imposed upon a transferor.
4. What happens if there is payment or acceptance by mistake.
5. How parties are discharged from liability on commercial paper.
In this course, we begin by examining a question especially important to management: personal liability for signing company notes and checks.
Then we look at the two general types of liability contract and warranty.
