Ann, agent/employee for Best Insurance Company, Inc. accepts a check from a customer made payable to...

Ann, agent/employee for Best Insurance Company, Inc. accepts a check from a customer made payable to her (Ann) in payment for the premium on an insurance policy. Prior to depositing the check in the company’s bank account, Ann indorses the check as follows: "The Best Insurance Company, Inc. by Ann, agent." Assuming that Ann has authority to indorse company checks,

	a.	Ann is the only payee as she indorsed the check with her name.
	b.	Neither Paula nor Best Insurance is a payee on this negotiable instrument.
	c.	Ann and Best Insurance are both payees, based on Ann’s indorsement listing them both.
	d.	Best Insurance is the payee. Ann is acting solely as agent for Best

Expert Solution

c. Ann and Best Insurance are both payees, based on Ann’s indorsement listing them both.

In this case Ann will just act as the agent but she is the payee as well because the check is on her name and along with that the organization too because the insurance policy is of the organization.

keosha answered 2 years ago

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