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.
We conclude the course by reviewing the ways in which parties are discharged from liability.