A Fictitious Payee Is a Payee on a Negotiable Instrument

question 20

True/False

A fictitious payee is a payee on a negotiable instrument whom the maker or drawer does not intend to have an interest in the instrument.

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Definitions:

Cognitive Abilities

The mental capacities that involve the ability to reason, plan, solve problems, think abstractly, and comprehend complex ideas.

Vigilance

The act or state of keeping careful watch for possible danger or difficulties.

Electrically Charged

Having an excess or deficiency of electrons, resulting in the ability to exert an electromagnetic force on other charged objects.

Neurons

The basic working units of the brain and the nervous system, cells responsible for receiving sensory input from the external world, sending motor commands to our muscles, and transforming and relaying the electrical signals at every step in between.