To pay for investment advice from financial consultants Smith and Jones,Tony signs a check payable to "Smith or Jones." A proper in?dorsement of the check is
A)not possible.
B)"Smith" and "Jones" only.
C)"Smith" only,or "Jones" only,but not "Smith" and "Jones."
D)"Smith" only,or "Jones" only,or "Smith" and "Jones."

Question

Quizplus · Accepted Answer

Since the check is payable to "Smith or Jones," either Smith or Jones can endorse and deposit the check. Therefore, the proper endorsement would include either Smith or Jones or both of their names. Thus, choice D ("Smith" only, or "Jones" only, or "Smith" and "Jones") is the correct option.

To Pay for Investment Advice from Financial Consultants Smith and Jones,Tony