Question: A check may fall under Uniform Commercial Code Article 3 as a negotiable instrument and be subject to UCC Article 4 in the course of
A check may fall under Uniform Commercial Code Article as a negotiable instrument
and be subject to UCC Article in the course of collection.
If any financial institution, such as a brokerage house, handles a check for payment or
collection, the check is covered by UCC Article
The bank on which a check is drawn is the depositary bank.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
