Which of the following is an example of a negotiable instrument?
A) Checks
B) Drafts
C) Notes
D) Checks, drafts, and notes
E) Checks and drafts, but not promissory notes
Correct Answer:
Verified
Q1: A note is a promise, by the
Q4: A bank involved in the check collection
Q4: The words "pay to cash" are sufficient
Q5: Order paper must be delivered but not
Q6: A draft is an order by a
Q6: Sometimes the depositary is the same bank
Q11: The UCC prohibits bank customers from postdating
Q12: Banks are required by the UCC to
Q12: Negotiation is the transfer of possession to
Q12: If an instrument fails to qualify as
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