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Indorsers of all instruments incur primary liability on the instrument.
Collecting banks give to a transferee the same basic warranties as those given by other
parties who transfer commercial paper, except they also may give encoding warranties.
The surety does not have the right of contribution from cosureties.
An agreement in connection with the sale of a business that prohibits the seller from
engaging in the same or similar business for a period of twenty-five years would be
unreasonable and unenforceable.
A reference in a negotiable instrument to the existence of a separate agreement to which
it is subject destroys the negotiability of the instrument.
A void title may allow good title to pass in special circumstances.
Promoters have a fiduciary relationship with the corporation.
