Ken presents an instrument that states "pay to the order of Laura" to Metro Bank for payment. This is the most common type of negotiable instrument regulated by the Uniform Commercial Code, which is
A) a substitute check.
B) a check.
C) a electronic fund transfer.
D) a payment via a mobile device.

Question

Quizplus · Accepted Answer

A check is a negotiable instrument that orders a bank to pay a specific amount of money from a person's account to the person in whose name the check has been issued. It is the most common type of negotiable instrument regulated by the Uniform Commercial Code.

Ken Presents an Instrument That States "Pay to the Order