Which is the original generic term for the documents used as payments to facilitate commercial transactions?
A)Payment notes
B)Commercial paper
C)Commerce notes
D)Negotiable instruments
E)Promissory paper

Question

Quizplus · Accepted Answer

A)Using documents as payments can greatly facilitate commercial transactions,
especially when cash is in short supply or it is dangerous to transfer large amounts of currency or precious metals.These documents of payment were generically called commercial paper and under Article 3 of the UCC were specifically labeled negotiable instruments.

Which Is the Original Generic Term for the Documents Used