An instrument that reads "Pay to the order of Jones and Green" establishes ________ payees.
A)joint
B)concurrent
C)consecutive
D)alternative
E)alternate

Question

Quizplus · Accepted Answer

Joint payees exist when an instrument lists more than one person as a payee and the instrument is to be payable to all the listed payees,typically indicated by the word and.In the event of joint payees,the instrument would read,"Pay to the order of Smith and Jones."

An Instrument That Reads "Pay to the Order of Jones