Multiple Choice
A draft is payable "to the order of Joe Jones or to bearer." Sally finds it and demands payment.Should the drawer pay Sally?
A) No,unless Joe Jones' name is crossed off
B) No,unless "bearer" is handwritten
C) Yes,an instrument made payable both to order and to bearer is payable to bearer
D) Yes,since the instrument is ambiguous,Joe Jones has no right to payment and only the bearer has the right to demand payment
Correct Answer:
Verified
Correct Answer:
Verified
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