Documents used as payments to facilitate commercial transactions were labeled as ______ under article 3 of the UCC.
A) Commerce paper
B) Commercial paper
C) Commerce notes
D) Negotiable instruments
E) Payment notes

Question

Quizplus · Accepted Answer

Documents of payment were generically called commercial paper and under Article 3 of the UCC were specifically labeled negotiable instruments.

Documents Used as Payments to Facilitate Commercial Transactions Were Labeled