The "holder" of an instrument need not actually have possession of it.
Correct Answer:
Verified
Q3: The fictitious payee rule puts the risk
Q4: "For deposit" or "for collections" are effective
Q5: A collection indorsement attempts to limit payment
Q6: A bearer instrument is like cash: it
Q7: Under the Uniform Commercial Code Section 3-202(a),
Q9: Only negotiable instruments can be transferred.
Q10: A conditional indorsement is an indorsement that
Q11: A blank indorsement consists of the indorser's
Q12: A blank indorsement converts order paper to
Q13: An order paper is a negotiable instrument
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