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The payable to order payable to the order of or other

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Unformatted text preview: hands of someone other than the payee. the – Payable to Order – payable to the “order of” (or other words which mean the same) a named person or anyone designated by that person. person – Payable to Bearer – payable to the holder of the instrument; includes instruments payable (1)­ instrument; payable to bearer or the order of bearer, (2)­that payable do not specify a payee, or (3)­payable to “cash” or to order of “cash.” or Order to Pay: Draft or Check Order issues draft or check to Drawer orders Drawee to pay Payee presents instrument for payment Promise to Pay: Promissory Note or Certificate of Deposit Certificate Issues note or C.D. to Maker promises to pay Payee presents instrument for payment...
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