If an Instrument Is Payable to Multiple Persons Using the Word

question 47

Multiple Choice

If an instrument is payable to multiple persons using the word "and," then the instrument ________.

• A)cannot be negotiated any further
• B)cannot be negotiated by either party individually
• C)can only be further negotiated jointly
• D)can only be further negotiated with the signature of the drawer

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Definitions:

Liability

Refers to the state of being legally responsible for something, typically a debt or obligation.

Weekend Business Activity

Commercial or professional transactions conducted during Saturday and Sunday.

Truck Expenses

Costs associated with operating and maintaining a truck, including fuel, repairs, maintenance, and insurance.