An instrument that is not payable to a specific payee or indorsee is ________.
A) legally unenforceable
B) a void contract
C) a voidable contract
D) order paper
E) bearer paper

Question

Quizplus · Accepted Answer

An instrument that is not payable to a specific payee or indorse is called bearer paper. It can be negotiated by transfer of possession alone and does not require endorsement.

An Instrument That Is Not Payable to a Specific Payee