Common use of Multiple Payees Clause in Contracts

Multiple Payees. Unless any check, or other instrument expressly indicates that the item is payable to conjunctive payees, the instrument shall be deemed payable in the alternative. If there is any ambiguity, the instrument shall be deemed payable in the alternative (example: a check payable to “A and B” shall be deemed a conjunctive instrument. A check payable to “A or B”; “A, B;” “A/B”, where “A and B” are listed on separate lines”; or otherwise where not expressly conjunctive using the word “and” shall be deemed payable in the alternative).

Multiple Payees. Unless any check, or other instrument expressly indicates that the item is payable to conjunctive payees, the instrument shall be deemed payable in the alternative. If there is any ambiguity, the instrument shall be deemed payable in the alternative (example: a check payable to “"A and B” " shall be deemed a conjunctive instrument. A check payable to “"A or B”"; “"A, B;” “" "A/B”", where “"A and B” B are listed on separate lines”"; or otherwise where not expressly conjunctive using the word “and” shall be deemed payable in the alternative).