If a lost instrument is order paper, the finder __________.
A) becomes the assignee of the instrument.
B) becomes the owner of the instrument.
C) becomes the holder of the instrument.
D) does not become the holder of the instrument.

Question

Quizplus · Accepted Answer

A lost instrument is not negotiable as it has been lost by the rightful owner and therefore cannot be legally transferred to another party. The finder does not become the holder of the instrument because they do not have legal possession or ownership rights over it.

If a Lost Instrument Is Order Paper, the Finder __________