If the instrument is order paper,how can a person become a holder?
A)Transfer of its possession.
B)Its indorsement by the appropriate parties.
C)Both (a) and (b) are necessary.
D)None of the above.

Question

Quizplus · Accepted Answer

In order to become a holder of an order paper instrument, one must either obtain possession of the instrument through transfer or receive a valid indorsement from the appropriate parties. Therefore, both options (a) and (b) are necessary.

If the Instrument Is Order Paper,how Can a Person Become