"Pay to the order of Jones or Green," is an instrument that is payable to ________ payees.
A) alternate
B) consecutive
C) concurrent
D) alternative
E) obscure

Question

Quizplus · Accepted Answer

"Pay to the order of Jones or Green" indicates that the instrument is payable to either Jones or Green, but not both. This is known as an alternative payee clause, which means that the payee can be either one of the named individuals.

"Pay to the Order of Jones or Green," Is an Instrument