Asked by
Kasey Shinnall
on Dec 18, 2024Verified
One who possesses a cashier's check payable to someone else is not a(n) ________ even though his name appears on it.
A) holder
B) holder in due course
C) bearer
D) endorser
E) possessor
Cashier's Check
A check issued by a bank, drawn from the bank’s own funds and signed by a cashier or teller, guaranteed by the bank.
Payable
The amounts of money that a company owes to vendors or creditors for goods or services received that have not yet been paid.
Bearer
The individual in possession of an instrument, such as a check or promissory note, that is not made out to a specific payee.
- Understand the concept of negotiation and the role of endorsements in the transferability of negotiable instruments.
Verified Answer
JW
Learning Objectives
- Understand the concept of negotiation and the role of endorsements in the transferability of negotiable instruments.