A ________ is a special form of contract that satisfies the requirements established by Revised Article 3 of the UCC.
A) rental agreement
B) negotiable instrument
C) lease agreement
D) nonnegotiable contract

Question

Quizplus · Accepted Answer

A negotiable instrument is a specific type of contract that follows the rules set forth by Revised Article 3 of the UCC. This includes certain conditions such as being in writing, signed by the issuer, and containing certain promises to pay a specific amount of money to the holder of the instrument. Examples of negotiable instruments include checks, promissory notes, and certificates of deposit.

A ________ Is a Special Form of Contract That Satisfies