Talon has a check that is written out to him from his aunt for a graduation gift. This type of instrument is known as a(n) ________.
A) order
B) bearer
C) transfer
D) payee
E) acknowledgement

Question

Quizplus · Accepted Answer

An order instrument is a financial document that is payable to a specific person or entity. In this case, the check written out to Talon by his aunt for a graduation gift is an example of an order instrument because it is specifically made out to him, indicating that only he (or someone he endorses the check to) can cash or deposit it.

Talon Has a Check That Is Written Out to Him