Which of the following statements holds true for conversion?
A) Conversion occurs if an instrument has the indorsement necessary for negotiation.
B) Conversion occurs if an instrument is purchased or paid by a drawee to a person entitled to payment.
C) An action for conversion may not be brought by the maker,drawer,or acceptor of the instrument.
D) An action for conversion may not be brought by a payee or an indorsee who received delivery of the instrument.
Correct Answer:
Verified
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