One who is in possession of a piece of commercial paper that is drawn, issued, or indorsed to him or to his order or that is indorsed in blank is a(n):

Question

Quizplus · Accepted Answer

The term "holder" refers to a person who is in possession of a commercial paper either because it was drawn, issued, or indorsed to him or to his order, or because it was indorsed in blank. It is a legal term that recognizes the right of a person to enforce the rights and obligations that the commercial paper represents. The holder may hold the commercial paper for himself or on behalf of another person. Therefore, the correct answer is B.

One Who Is in Possession of a Piece of Commercial