There might be some who would argue that when payees are "stacked" in a list, you take each line on its own. That's a stretch, in my opinion, of the "ambiguously" wording in the UCC. There's nothing ambiguous in the way that check is made out -- it's payable to the trustees in their capacity as trustees, not to either of the individuals as individuals.
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John S. Burnett
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Fighting for Compliance since 1976
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