When the Name of the Payee Is Spelled Incorrectly, the Payee

question 32

Multiple Choice

When the name of the payee is spelled incorrectly, the payee:

• A) must indorse the instrument with the incorrect spelling of the payee's name.
• B) must indorse the instrument with the correct spelling of the payee's name.
• C) may indorse the instrument with either the correct or incorrect spelling of the payee's name.
• D) may not indorse the instrument.

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Definitions:

Members

Individuals or entities that are part of a group, organization, or society, typically with certain rights or obligations.

AFL

The American Federation of Labor is a nationwide coalition of labor unions within the United States.

CIO

Congress of Industrial Organizations, historically a federation of labor unions in the United States.

Taft-Hartley Act

A federal act passed in the United States in 1947 that serves to reduce the power and activities of labor unions.