Which of the following is true of the articles of the UCC that deal with the law of commercial paper?
A) The law of commercial paper is covered in Article 3 and Article 4 of the Uniform Commercial Code.
B) Revised Article 3 of the UCC developed in 1990 has now been adopted by almost all the states.
C) The law of commercial paper is covered only in Article 3 of the UCC that deals with negotiable instruments.
D) Negotiable documents,such as investment securities and documents of title,are also treated in Article 3 of the UCC.
Correct Answer:
Verified
Q1: Negotiability is the same thing as validity
Q2: A contract for the payment of money
Q4: Commercial paper may serve as a substitute
Q7: If an instrument is undated,its "date" is
Q8: A cashier's check is a draft drawn
Q9: The negotiability of an instrument is affected
Q10: To be negotiable,the only requirement is that
Q11: An instrument can qualify as a negotiable
Q14: Commercial paper is:
A) the basic selling document
Q20: A two-party instrument in which one person
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