If Adam Brewer possesses a check that states "Payable to Adam Brewer," Adam is a(n)________.
A)assignee
B)holder
C)holder in due course
D)delegatee
E)incidental beneficiary

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.If Adam Brewer possesses a check that states "Payable to Adam Brewer," Adam is a holder.

If Adam Brewer Possesses a Check That States "Payable to Adam