If an Order Instrument Is Transferred Without Indorsement,then the Instrument

question 58

Multiple Choice

If an order instrument is transferred without indorsement,then the instrument:

• A)is deemed to have been negotiated and the bank can qualify as a holder.
• B)has not been negotiated and the transferee cannot qualify as a holder.
• C)is deemed to have been negotiated and the transferee can qualify as a holder.
• D)has been transferred and the bank and the transferee can qualify as a holder.

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Relates to a context where something increases or develops in stages incrementally.

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