The payee has no rights in an instrument until the drawer or the maker has delivered it to the payee.
Correct Answer:
Verified
Q2: An acceptor is a drawer who has
Q3: The signature on an instrument must appear
Q4: Negotiation of commercial paper results in lesser
Q5: A negotiable instrument may be partly printed
Q6: A certificate of deposit is a written
Q8: The bank is the drawee on a
Q9: If an instrument is nonnegotiable, the rights
Q10: Revised UCC Article 3 refers to drawers,
Q11: A check is an order by a
Q12: The drawer is the person on whom
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