Liability of Parties
Explain contractual liability, warranty liability, and
liability of conversion.
• Explain the liability of makers, acceptors, drawers,
drawees, indorsers, and accommodation parties.
• Identify and discuss the condition precedents to the
liability of secondary parties.
• Explain the methods by which liability on an
instrument may be terminated.
• Compare the warranties on transfer with the
warranties on presentment.
