A negotiable promissory note executed and delivered by B to C passed in due course and was indorsed in blank by C, D, E, and F. G, the present holder, strikes out D’s indorsement. What is the liability of D on her indorsement?

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A negotiable promissory note executed and delivered by B to C passed in due course and was indorsed in blank by C, D, E, and F. G, the present holder, strikes out D’s indorsement. What is the liability of D on her indorsement?

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A negotiable promissory note executed and delivered by B to C passed in due course and was indorsed in blank by C, D, E, and F. G, the present holder, strikes out D’s indorsement. What is the liability of D on her indorsement?

Explanation & AnswerSolution by a verified expert

Explanation

Individual G, the holder of the instrument, has the power to cancel the endorsement of anyone from the instrument. So, on the cancellation of endorsement of Individual D from the instrument, by Individual G, Individual D becomes free from the liability on account of the instrument.

Verified Answer

Individual D is going to be free from the liability of the instrument since the holder of the instrument cancelled the endorsement of Individual D from the instrument.

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