If an order instrument is transferred without indorsement,then the instrument:
A)is deemed to have been negotiated and the bank can qualify as a holder.
B)has not been negotiated and the transferee cannot qualify as a holder.
C)is deemed to have been negotiated and the transferee can qualify as a holder.
D)has been transferred and the bank and the transferee can qualify as a holder.

Question

Quizplus · Accepted Answer

Except for the special provisions concerning depositary banks,if an order instrument is transferred without indorsement,the instrument has not been negotiated and the transferee cannot qualify as a holder.

If an Order Instrument Is Transferred Without Indorsement,then the Instrument