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Which student would be classified as a passive listener?
Order Paper
A financial instrument payable to a specific person or entity, thus requiring endorsement for transfer.
Indorsed in Blank
A signature on a financial instrument, such as a check or bill of exchange, without naming a beneficiary, allowing any holder to claim the document's value.
Bearer Paper
A negotiable instrument or securities that are payable to the holder or the person possessing the document.
Holder in Due Course
A party who has acquired a negotiable instrument in good faith and for value, and thus has certain rights to collect the instrument free of many defenses.
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