fictitious payee

fictitious payee
A fictitious person, as where the name is feigned or pretended or where a name is inserted as payee without any intention that payment shall be made only in conformity therewith. 11 Am J2d B & N § 128. It is well settled that an existing person may be a fictitious person within the meaning of the Negotiable Instruments Law. The rule is that when an instrument is made payable to an existing person, but with no intention that he shall have any interest in it, the name being used entirely as a matter of form, it is considered to be payable to a fictitious payee and so payable to bearer. Pennsylvania Co. v Federal Reserve Bank (DC Pa) 30 F Supp 982.

Ballentine's law dictionary. . 1998.

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  • fictitious payee — n: a person named as payee in an instrument who does not in fact exist or who does exist but to whom the maker of the instrument does not intend to convey any interest in the instrument Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • fictitious payee — Negotiable instrument is drawn to fictitious payee whenever payee named in it has no right to it, and its maker does not intend that such payee shall take anything by it; whether name of payee used by maker is that of person living or dead or one …   Black's law dictionary

  • fictitious payee — Negotiable instrument is drawn to fictitious payee whenever payee named in it has no right to it, and its maker does not intend that such payee shall take anything by it; whether name of payee used by maker is that of person living or dead or one …   Black's law dictionary

  • fictitious — fic·ti·tious adj 1: of, relating to, or characteristic of a legal fiction 2: false fic·ti·tious·ly adv fic·ti·tious·ness n Merriam Webster’s Dictionary of Law …   Law dictionary

  • fictitious person — n: a supposed but in fact nonexistent person referred to in some legal documents or proceedings; also: fictitious payee Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • payee — The person in whose favor a bill of exchange, promissory note, or check is made or drawn; the person to whom or to whose order a bill, note, or check is made payable; the person to whom an instrument is payable upon issuance. The entity to whom a …   Black's law dictionary

  • fictitious party — A party in whose name an action has been brought without any authority from him. If committed in any of the king s superior courts, it was punishable as a high contempt to bring an action in the name of a person who did not exist, or of one who… …   Ballentine's law dictionary

  • fictitious person — An imaginary person. See fictitious payee …   Ballentine's law dictionary

  • fictitious credit — An indorsement on a promissory note, made without the authority of the maker or any indorser, of credit for a payment not made. 4 Am J2d Alt Inst § 62. Such an indorsement is sometimes made by payee or indorsee for the purpose of tolling the… …   Ballentine's law dictionary

  • fictitious person — noun 1. : a supposed but in fact nonexistent person referred to in some legal documents or proceedings (as the “Richard Roe” in English ejectment cases or the payee “Cash” in a check) 2. : juristic person * * * Law. a legal entity or artificial… …   Useful english dictionary

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