Question

Indorsers are obligated to make the payment only when the:

a. instrument has not been properly presented to the drawee or party obliged to pay the instrument.
b. instrument is not dishonored
c. notice of dishonor is not given to the secondary party within the time and manner mentioned.
d. instrument has been properly presented to the drawee or party obliged to pay the instrument, and payment must be demanded.

Answer 1

Indorsers are obligated to make payment only when the instrument has been properly presented and payment must be demanded.

Step-by-step explanation:

Indorsers are obligated to make the payment only when the instrument has been properly presented to the drawee or party obliged to pay the instrument, and payment must be demanded.