Question: According to the common law and Uniform Commercial Code ( UCC ) Article 2 , which of the following is correct regarding a contract? It

According to the common law and Uniform Commercial Code (UCC) Article 2, which of the following is correct regarding a contract?
It is not commercial paper, but it may be assigned.
It is non-assignable commercial paper.
It is commercial paper and may be assigned.
It is neither commercial paper, nor is it assignable.
The common law and UCC does not address contracts since contract law is statutory law.
According to the common law and Uniform Commercial Code (UCC) Article

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