Commercial Law, 2011 Bar — Question 72

MULTIPLE CHOICE

The rule is that the intentional cancellation of a person secondarily liable results in the discharge of the latter. With respect to an indorser, the holder's right to cancel his signature is: A) without limitation. B) not limited to the case where the indorsement is necessary to his title. C) limited to the case where the indorsement is not necessary to his title. D) limited to the case where the indorsement is necessary to his title.

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