Examlex
Which of the following statements is NOT true?
Special Indorsement
A signature on a negotiable instrument, such as a check, that specifies the person to whom the instrument is to be payable, thereby restricting further transfer.
Pay to the Order
A phrase written on checks or drafts instructing the financial institution to pay the specified amount to the individual or entity named.
Trust
A fiduciary relationship in which one party, known as the trustee, holds property on behalf of another party, known as the beneficiary.
Sign
To write or use a symbol, like one's name, on a document as a way of acknowledging or agreeing to its terms.
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