Which of the following is not a bearer instrument?
A)An instrument payable to "X."
B)An instrument payable to "bearer."
C)An instrument payable to "cash."
D)An instrument payable to "the order of John Doe."
E)An instrument payable to no one.

Question

Quizplus · Accepted Answer

A)An instrument payable to "the order of John Doe" is non-functional until it is
endorsed.Once it is endorsed,it becomes a bearer instrument.An instrument payable to no one,"x," cash,or "bearer" are automatically bearer instruments because anyone that possesses it can claim the payment due on it.
B)An instrument payable to "the order of John Doe" is non-functional until it is endorsed.Once it is endorsed,it becomes a bearer instrument.An instrument payable to no one,"x," cash,or "bearer" are automatically bearer instruments because anyone that possesses it can claim the payment due on it.
C)An instrument payable to "the order of John Doe" is non-functional until it is endorsed.Once it is endorsed,it becomes a bearer instrument.An instrument payable to no one,"x," cash,or "bearer" are automatically bearer instruments because anyone that possesses it can claim the payment due on it.

Which of the Following Is Not a Bearer Instrument