A fictitious payee is a payee on a negotiable instrument whom the maker or drawer does not intend to have an interest in the instrument.

Name: A fictitious payee is a payee on a negotiable instrument whom the maker or drawer does not intend to have an interest in the instrument.
Brand: Quizplus
Rating: 4.7 (33 reviews)

Question

Quizplus · Accepted Answer

A fictitious payee is someone whose name is on a negotiable instrument (like a check) but the person who wrote the check didn't intend for that person to actually receive the money. It's a type of fraud.

A Fictitious Payee Is a Payee on a Negotiable Instrument