One who possesses a cashier's check payable to someone else is not a(n) ________ even though his name appears on it.
A) holder
B) holder in due course
C) bearer
D) endorser
E) possessor

Question

Quizplus · Accepted Answer

A cashier's check is a check drawn by a bank on itself, and is therefore always a bearer instrument. This means that anyone who possesses the check can cash it, regardless of whether their name appears on it. Therefore, someone who possesses a cashier's check payable to someone else is not a holder, holder in due course, endorser, or possessor.

One Who Possesses a Cashier's Check Payable to Someone Else