If an instrument is payable to multiple persons using the word "and," then the instrument ________.
A) cannot be negotiated any further
B) cannot be negotiated by either party individually
C) can only be further negotiated with the endorsement of both payees
D) can only be further negotiated with the signature of the drawer

Question

Quizplus · Accepted Answer

When an instrument is payable to multiple persons using the word "and," it requires the endorsement of all the payees mentioned for it to be further negotiated. This ensures that all parties involved agree to the negotiation.

If an Instrument Is Payable to Multiple Persons Using the Word