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Holly prepares a check on her account at Investment Bank to Jerry to pay a debt. Jerry negotiates the check by indorsement to Kelly, who negotiates the check by indorsement to Lisa, who presents it for payment to Interstate Bank. Holly is:

a. not liable for payment under any circumstances.

b. primarily liable.

c. secondarily liable.

d. simultaneously liable.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M944482

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