Sec. 8. When payable to order. - Act 2031

The instrument is payable to order where it is drawn payable to the order of a specified person or to him or his order. It may be drawn payable to the order of:

(a) A payee who is not maker, drawer, or drawee; or 
(b) The drawer or maker; or
(c) The drawee; or 
(d) Two or more payees jointly; or
(e) One or some of several payees; or 
(f) The holder of an office for the time being.

Where the instrument is payable to order, the payee must be named or otherwise indicated therein with reasonable certainty. (Negotiable Instruments Law; Act 2031)

Popular Posts