Fact Pattern 25-A1 (Questions A5-A8 Apply)

question 1

Multiple Choice

Fact Pattern 25-A1 (Questions A5-A8 apply)
Rollo obtains a check payable to his order from Simone.Rollo signs the back and gives the check to Trey.Trey writes "Pay to Trey" above Rollo's signature.
-Refer to Fact Pattern 25-A1.When Trey writes "Pay to Trey" above Rollo's signature,the check becomes

• A)a bearer instrument.
• B)an order instrument.
• C)a promissory note.
• D)a nonnegotiable instrument.

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Definitions:

Multinational Technology

Technologies created, distributed, and utilized by companies operating in multiple countries, emphasizing global innovation and connectivity.

Documentary Collection

A banking process where the seller's bank collects payment for goods from the buyer, against delivery of certain documents.

Exporter's Bank

A financial institution that provides services and financing to companies involved in exporting goods and services abroad.

Collecting Payment

The process of receiving money owed for goods or services provided.