Asked by
lesego maseko
on Nov 27, 2024
Verified
An instrument payable to two or more persons in the alternative, such as a check "payable to the order of Elena or Ferrar,"
A) requires the indorsement of only of the parties to be negotiated.
B) requires the indorsement of both of the parties to be negotiated.
C) must be converted to a bearer instrument to be negotiated.
D) is nonnegotiable.
Indorsement
A signature or instruction written on the back of a negotiable instrument, such as a check, that specifies the terms of the transfer.
Negotiated
Discussed or bargained to reach a specific agreement or settlement, often involving adjustments to original terms.
- Comprehend the requirements and effects of specific conditions or characteristics on the negotiability of instruments.
Verified Answer
MP
Learning Objectives
- Comprehend the requirements and effects of specific conditions or characteristics on the negotiability of instruments.