The Uniform Commercial Code (UCC) allows any indorsement in the name of a fictitious payee to be effective as the payee's indorsement in favor of any person that pays the instrument in good faith or takes it for value or for collection.
Correct Answer:
Verified
Q1: The rationale for the imposter rule is
Q2: Revised Article 3 of the Uniform Commercial
Q3: The terms of the contract of the
Q4: The maker of a promissory note is
Q5: Contractual liability on negotiable instruments flows from:
A)
Q7: If a person purporting to act as
Q8: A person who is secondarily liable is
Q9: When a person signs a negotiable instrument,
Q10: Which of the following statements is true
Q11: When a representative signs an authorized signature
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