If an instrument is __________ and thus payable to an identified person, its negotiation requires that the identified party physically transfer the instrument and indorse the instrument to its new holder.
A) implied paper
B) bearer paper
C) order paper
D) All of the choices are correct.

Question

Quizplus · Accepted Answer

Order paper requires endorsement and physical delivery to the new holder for its negotiation, unlike bearer paper which can be transferred without endorsement. Implied paper is not a recognized term in this context.

If an Instrument Is __________ and Thus Payable to an Identified