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This just happened...Then I read this post and will now share these personal notes.

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 who
never existed is immaterial. Goodyear Tire & Rubber
Co. of California v. Wells Fargo Bank & Union Trust
Co., 1 Cal.App.2d 694, 37 P.2d 483. The test is not
whether the named payee is "fictitious" but whether the
signer intends that he shall have no interest in the
instrument. U.C.C. § -3-405. (Blacks 6th)

It seems that the NAME and it's NATURAL STATE (living or dead, fictitious, legal entity, etc.) is a RED HERRING. What is the ISSUE?

What is RED HERRING? (Blacks 2nd)
In the US the registration of a new ISSUE filed by a company to the securities and exchange commission.There are not details in this report and it must be updated often as values change. This is not an attempt to sell.

red′ her′ring (Webster's College Dictionary, © 2010)
1. a smoked herring.
2. something intended to divert attention from the real problem or matter at hand; a misleading clue.
3. a tentative financial prospectus describing a proposed offering, as of stocks, that has not yet been officially registered or approved: so called because the front cover must carry a special notice printed in red.

What is ISSUE? (Blacks 2nd)
1. To come forth, put out or put into circulation. 2. A point of law with controversy. 3. The matter to be decided in court. 4. The stocks and bonds that are offered for sale. 5. A person's descendents. (DING!)

When someone, while sitting in judgement, then demands an answer to the question "Are you or are you not FIRST M. LAST?" and then proceeds to ask two more times towards Default; Could good responses be "Is that question immaterial?", "Are you asking what interest I have in it.", "Is the ISSUE what interest I have in it?"?

How does one express interest as the secondary party with no material interest?

3-605(e)(e) A secondary obligor is not discharged under subsection (a)(3), (b), (c), or (d) unless the person entitled to enforce the instrument knows that the person is a secondary obligor or has notice under Section 3-419(c) that the instrument was signed for accommodation.

3-419(c) A person signing an instrument is presumed to be an accommodation party and there is notice that the instrument is signed for accommodation if the signature is an anomalous indorsement or is accompanied by words indicating that the signer is acting as surety or guarantor...

3-205(d) "Anomalous indorsement" means an indorsement made by a person who is not the holder of the instrument. An anomalous indorsement does not affect the manner in which the instrument may be negotiated.

3-205(c) The holder may convert a blank indorsement that consists only of a signature into a special indorsement by writing, above the signature of the indorser, words identifying the person to whom the instrument is made payable. [see TWEA]

3-204(a) "Indorsement" means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is made on an instrument for the purpose of (i) negotiating the instrument, (ii) restricting payment of the instrument, or (iii) incurring indorser's liability on the instrument, but regardless of the intent of the signer, a signature and its accompanying words is an indorsement unless the accompanying words, terms of the instrument, place of the signature, or other circumstances unambiguously indicate that the signature was made for a purpose other than indorsement. For the purpose of determining whether a signature is made on an instrument, a paper affixed to the instrument is a part of the instrument.

See also collection guaranty(must be explicitly stated) vs. guaranty payment (implicit if not explicit). (interesting..."The guaranty cannot exist without a primary debt obligation. Thus, if the primary debt obligation"...(i.e. legal tender)..."has been fully satisfied, is void or is illegal"...(DING!)...", a guaranty of the debt obligation can also be deemed unenforceable."

Hope this helps one.