Take the following as truth: RECOURSE -The rights of a holder in due course of a financial instrument (such as a loan) to force the endorser on the instrument to meet his or her legal obligations for making good the payment of the instrument if dishonored by the maker or acceptor.
Then the following statement: "The endorser of a financial instrument has no obligation to make payment to a rights holder." is true, false, or inconclusive?
Answer: False