Under the UCC,a Fictitious Payee's Indorsement Is Not Treated as a Forgery

question 22

True/False

Under the UCC,a fictitious payee's indorsement is not treated as a forgery.

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Definitions:

Nonmaterial Way

A term often related to philosophical, spiritual or cultural practices that involves something intangible, not based on material or physical objects or needs.

Liability

The condition of having legal accountability, especially regarding debts or legal duties.

Contractually Agreed Upon Fee

A fee that parties have explicitly decided upon within a contract for services or goods.

Damages

Monetary compensation required to be paid as a remedy for a breach of contract or a tortious act.