Commercial Law, 2012 Bar — Question 13

MULTIPLE CHOICE

X acted as an accommodation party in signing as a maker of a promissory note. Which phrase best completes the sentence - This means that X is liable on the instrument to any holder for value: A) for as long as the holder does not know that X is only an accommodation party. B) even though the holder knew all along that X is only an accommodation party. C) for as long as X did not receive any consideration for acting as accommodation party. D) provided X received consideration for acting as accormnodation party.

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