An instrument is order paper when by its terms it is payable to the order of any person described in it, or to a person or order.

Question

Quizplus · Accepted Answer

An instrument is indeed order paper when by its terms it is payable to the order of any person described in it, or to a person or order. This definition is established in the Uniform Commercial Code (UCC) and commonly applies to negotiable instruments such as checks, promissory notes, and bills of exchange.

An Instrument Is Order Paper When by Its Terms It