Which of the following can be claimed by merely having possession of the instrument?
A)a certificate of deposit
B)an allonge
C)an order instrument
D)a bearer instrument

Question

Quizplus · Accepted Answer

Only a bearer instrument can be claimed by merely having possession of the instrument. This is because a bearer instrument is a negotiable instrument that is payable to whoever holds the instrument, unlike an order instrument which is only payable to the named payee on the instrument. A certificate of deposit and an allonge may provide evidence of ownership or entitlement, but do not necessarily confer rights of ownership or payment without further verification or endorsement.

Which of the Following Can Be Claimed by Merely Having