A Payee Is Not Liable on an Instrument Until the Payee

question 20

True/False

A payee is not liable on an instrument until the payee transfers the instrument to someone else.

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Definitions:

Ovary

In flowering plants, the enlarged base of a carpel, inside which one or more ovules form and eggs are fertilized. In animals, the egg-producing gonad.

Old Age

A phase in the life cycle of an organism that is characterized by a decline in physiological function and an increased likelihood of mortality.

Cell Differentiation

The process by which a cell becomes specialized to perform a specific function.