Multiple Choice
Wayne issues a draft payable to Molly.Molly indorses the draft in blank on the back and gives it to Jerry.Which of the following statements correctly describes the status of this instrument?
A) The draft started out as bearer paper,but Molly converted it to order paper.
B) The draft started out as order paper,but Molly converted it to bearer paper.
C) The draft started out as bearer paper and it is still bearer paper.
D) The draft started out as order paper and it is still order paper.
Correct Answer:
Verified
Correct Answer:
Verified
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