An Instrument That Is Not Payable to a Specific Payee

question 33

Multiple Choice

An instrument that is not payable to a specific payee or indorsee is ________.

• A) legally unenforceable
• B) a void contract
• C) a voidable contract
• D) order paper
• E) bearer paper

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Definitions:

U.S. Citizenship

The status of being a citizen of the United States, involving certain rights, duties, and privileges, and obtained by birth in the U.S., through parents, or by naturalization.

Puerto Ricans

People originating from or holding citizenship in Puerto Rico, which is a territory of the United States located in the Caribbean.

Alien Land Law

Legislation that prohibits certain ethnic or national groups from owning land within a jurisdiction.

California

A state located on the West Coast of the United States, known for its diverse geography, climate, and demographics, as well as being a global trendsetter in culture and technology.