A Payee Whose Name Is Misspelled on an Instrument Cannot

question 5

True/False

A payee whose name is misspelled on an instrument cannot indorse the instrument.

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Definitions:

Authoritarian States

Nations where political power is concentrated in a single authority, with limited personal freedoms.

Individual Wealth

The total value of all assets owned by a single person, minus any debts.

Communism

A political and economic ideology that aims at creating a classless society in which the means of production are owned and controlled by the community as a whole.

Capitalism

An economic system based on private ownership of the means of production and their operation for profit.