Industries Inc., drew a check payable to Gloria Schell and Pippen Tallit in the sum of $20,000. For a proper negotiation, the check:
A) needs to be indorsed only by Gloria Schell, since her name appears first.
B) needs to be indorsed by either payee, since the indorsement of only one of the payees is necessary to negotiate the check.
C) needs to be indorsed by both payees.
D) needs to be indorsed by the maker.

Question

Quizplus · Accepted Answer

The check needs to be endorsed by both payees, as it is a joint payee check. Both parties must endorse the check to properly negotiate it.