Before Phil endorsed the check it was a[n] ______ instrument; and after he endorsed it,the check was a[n] _____ instrument.
A) Order; order
B) Order; transactional
C) Order; bearer
D) Transactional; bearer
E) Bearer; bearer

Question

Quizplus · Accepted Answer

When a specific payee is named, the document is an order instrument [UCC 3-109(b)]. Negotiable instruments payable to whoever is bearing them are bearer instruments [UCC 3-109(a)] and are treated like cash.

Before Phil Endorsed the Check It Was A[n] ______ Instrument;