Which is the correct term for a party who is in possession of an instrument that is payable to the party or to the bearer of the instrument?
A)A holder.
B)A transferee.
C)A bearer.
D)A payee.
E)An issuer.

Question

Quizplus · Accepted Answer

A)A holder is a party in possession of an instrument payable to the party or the
bearer [UCC 1-20120)].
B)A holder is a party in possession of an instrument payable to the party or the bearer [UCC 1-20120)].
C)A holder is a party in possession of an instrument payable to the party or the bearer [UCC 1-20120)].
D)A holder is a party in possession of an instrument payable to the party or the bearer [UCC 1-20120)].
E)A holder is a party in possession of an instrument payable to the party or the bearer [UCC 1-20120)].

Which Is the Correct Term for a Party Who Is