A Draft Is Payable "To the Order of Joe Jones

question 55

Multiple Choice

A draft is payable "to the order of Joe Jones or to bearer." Sally finds it and demands payment.Should the drawer pay Sally?

• A) No, the terminology is ambiguous and therefore the draft must be paid only to the order of Joe Jones.
• B) No, unless Joe Jones's name is crossed off.
• C) Yes, since the word "or" is contained in the instrument, either Joe Jones or the bearer of the draft may obtain payment.
• D) No, unless "bearer" is handwritten.

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Definitions:

Chores

Routine tasks or work that need to be done on a regular basis, usually referring to tasks related to maintaining a household.

Socialization Influences

The effects of interaction with family, peers, institutions, and media on the process of learning social norms, behaviors, and cultural practices.

Peers

Individuals who are of similar age, social status, or share similar interests, often influencing social and developmental outcomes.

Aggressive

Pertaining to behavior that is hostile, harmful, or assertive with the intention of dominating or causing injury to others.