Pay to the Order of Whom?—The Case of the Ambiguous Multiple Payee Designation
Date
1990
Authors
Beyer, Gerry W.
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Abstract
For a variety of reasons, the issuer of an instrument often finds it desirable to make the instrument payable to a multiple payee, either jointly or in the alternative. The article analyzes the ambiguity of the multiple payee issue including historical development and cases which addressed a variety of multiple payee designations. The author also offers a proposed U.C.C. amendment to resolve the dilemma of ambiguous multiple payee designations.
Description
Keywords
ambiguous multiple payee, uniform commercial code, U.C.C., Article 3, multiple payee
Citation
Gerry W. Beyer, Pay to the Order of Whom?—The Case of the Ambiguous Multiple Payee Designation, 21 Tol. L. Rev. 685 (1990).