Solved

Use the Fact Situation Below to Answer the Questions That

Question 60

Multiple Choice

Use the fact situation below to answer the questions that follow. John owes Edward a sum of money and gives Edward a cheque made out to Edward for the amount he owes.Edward also owes a sum of money to Albert,and on receiving the cheque from John,Edward signs his name only on the back of the cheque.
When Edward delivers the cheque to Albert,the cheque becomes


A) a bearer cheque.
B) an assignment cheque.
C) a promissory note.
D) an endorsement cheque.
E) all of the above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions