Asked by Artem Balatskiy on Jul 02, 2024
Which of the following is not a bearer instrument?
A) An instrument payable to no one.
B) An instrument payable to "X."
C) An instrument payable to "cash."
D) An instrument payable to "bearer."
E) An instrument payable to "the order of John Doe."
Bearer Instrument
A financial document not assigned to a specific holder, thus whoever holds the document has the right to cash or transfer it.
- Recognize the difference between order instruments and bearer instruments.
Learning Objectives
- Recognize the difference between order instruments and bearer instruments.
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