Certainty required as to payee

(1) Where a bill is not payable to bearer the payee must be named or otherwise indicated therein with reasonable certainty. (2) A bill may be made payable to, (a) two or more payees jointly; (b) in the alternative, to one of two or one of some or several payees; or (c) to the holder of an office for the time being. (3) Where the payee is a fictitious or non-existing person, the bill may be treated as payable to bearer.