Indorsement can convert an order instrument into a bearer instrument

Name: Indorsement can convert an order instrument into a bearer instrument
Brand: Quizplus
Rating: 4.8 (41 reviews)

Question

Quizplus · Accepted Answer

Indorsement refers to the act of transferring ownership of a negotiable instrument from one person to another by signing the back of the instrument. If the indorsement is blank or endorsed in blank, it converts the order instrument into a bearer instrument, meaning that it is payable to whoever possesses it. Therefore, the statement is true.

Indorsement Can Convert an Order Instrument into a Bearer Instrument