Question

Which of the following is true regarding liability on negotiable instruments?

A. Makers and acceptors are primarily liable for a negotiable instrument, while drawers and endorsers are secondarily liable

B. Drawers and endorsers are primarily liable, while makers and acceptors are secondarily liable

C. Makers and drawers are primarily liable, while acceptors and endorsers are secondarily liable

D. Acceptors and endorsers are primarily liable, while makers and drawers are secondarily liable

E. Makers, acceptors, drawers, and endorsers are all secondarily liable

Answer

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