If Joe Johnson gives an instrument to Sally Smith that reads,"payable to Sally Smith and Roger Reed," either person's indorsement is sufficient to negotiate the instrument.

Name: If Joe Johnson gives an instrument to Sally Smith that reads,"payable to Sally Smith and Roger Reed," either person's indorsement is sufficient to negotiate the instrument.
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Instruments payable to multiple payees using "and" require the endorsement of all listed payees to be negotiated.

If Joe Johnson Gives an Instrument to Sally Smith That