A(n) ________ is type of instrument that is payable to anyone in physical possession of the instrument and presents it for payment when it is due.
A) certificate of deposit
B) order instrument
C) bearer instrument
D) check

Question

Quizplus · Accepted Answer

A bearer instrument is a type of negotiable instrument that can be transferred to another party by delivery, and does not require endorsement. The person who has physical possession of the instrument at the time of payment is entitled to receive the payment. Examples of bearer instruments include traveler's checks and bearer bonds. Certificates of deposit and checks can both be either order or bearer instruments, depending on the language used to describe them.

A(n) ________ Is Type of Instrument That Is Payable to Anyone