Brendan prepared a cheque payable to Joey and placed it in the pocket of his coat. Later in the day, while shopping, his coat was stolen. If the cheque had been made payable to "Humpty Dumpty" instead of Joey, any finder of the cheque would be entitled to demand payment.

Question

Quizplus · Accepted Answer

A cheque made payable to a fictitious or non-existing entity like "Humpty Dumpty" cannot be legally cashed by a finder, as banks require identification for the payee named on the cheque, and a non-existing entity cannot provide such identification.

Brendan Prepared a Cheque Payable to Joey and Placed It