Asked by
Sophia Fernandez
on Nov 27, 2024Verified
An instrument, such as a check, drawn payable to an organization
A) can be negotiated by an authorized representative of the entity.
B) must be indorsed with a stamped imprint of the name of the entity.
C) must be converted to a bearer instrument to be negotiated further.
D) is nonnegotiable.
Authorized Representative
An individual who has been formally empowered to act on behalf of another person or organization.
Negotiated
The process through which parties discuss and reach a mutual agreement on the terms of a deal or contract.
Organization
A group of people with a particular purpose, such as a business or government department, organized for collective action.
- Identify the legal consequences associated with the procedures of negotiation and transferring instruments.
Verified Answer
FP
Learning Objectives
- Identify the legal consequences associated with the procedures of negotiation and transferring instruments.