A party who is in possession of an instrument that is payable to the party or to the bearer of the instrument is known as a(n)________.
A)holder
B)third-party beneficiary
C)payee
D)assignee
E)transferee

Question

Quizplus · Accepted Answer

According to Uniform Commercial Code Section 1-201(20),a holder is a party who is in possession of an instrument that is payable to the party or to the bearer of the instrument.

A Party Who Is in Possession of an Instrument That