Barry draws a check payable to "Cash" and presents it to Dollars & Sense store for payment. This instrument is
A) a bearer instrument.
B) an order instrument.
C) nonnegotiable.
D) void.

Question

Barry draws a check payable to "Cash" and presents it to Dollars & Sense store for payment. This instrument is
A) ​a bearer instrument.
B) ​an order instrument.
C) ​nonnegotiable.
D) ​void.

Quizplus · Accepted Answer

A check payable to "Cash" is considered a bearer instrument, meaning that whoever possesses the check can cash or deposit it.

Barry Draws a Check Payable to "Cash" and Presents It