A party who possesses a negotiable instrument payable to that party or to the bearer of the instrument is a ________ of the instrument.
A)holder
B)assignee
C)delegatee
D)drawee
E)bailee

Question

Quizplus · Accepted Answer

According to Uniform Commercial Code Section 1-201(b)(21),a party who possesses a negotiable instrument payable to that party or to the bearer of the instrument is a holder of the instrument.

A Party Who Possesses a Negotiable Instrument Payable to That