________ is the transfer of possession of a negotiable instrument to a third party who becomes a holder of the negotiable instrument.
A)Certification
B)Negotiation
C)Acknowledgement
D)Referral
E)Consignment

Question

Quizplus · Accepted Answer

One important characteristic of negotiable instruments is the ease associated with transferring the instrument to a third party.Once a negotiable instrument is created,it can be transferred to another party through negotiation.According to Uniform Commercial Code Section 3-201,negotiation is the transfer of possession to a third party who becomes the holder of the negotiable instrument.

________ Is the Transfer of Possession of a Negotiable Instrument