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Question
When a holder makes a blank indorsement of a negotiable instrument that is bearer paper, what legal effect does this have?
A. There is no effectbearer paper does not need to be indorsed.
B. The bearer negotiates it by transfer alone and no further indorsement is necessary for negotiation.
C. The instrument is no longer negotiable, as it has been altered.
D. The instrument is converted into order paper.
Answer
This answer is hidden. It contains 194 characters.
Related questions
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Q:
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B. $10,000 fine and five years' imprisonment.
C. $20,000 fine and five years' imprisonment.
D. $10,000 fine and one year imprisonment.
Q:
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A. An accountant who prepares and audits financial statements of companies.
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