Question: According to the Uniform Commercial Code ( UCC ) , which one of the following is NOT considered a negotiable instrument? ( CHOOSE ONLY ONE

According to the Uniform Commercial Code (UCC), which one of the following is NOT considered a "negotiable instrument"?
(CHOOSE ONLY ONE CORRECT ANSWER)
A promissory note
B
An IOU
A draft
A check
A certificate of deposit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

According to the Uniform Commercial Code ( UCC ) , which one of the following is NOT considered a "negotiable instrument"? ( CHOOSE ONLY ONE CORRECT ANSWER ) A promissory note B An IOU A draft A...

Q:

1, According to the Uniform Commercial Code (UCC or Code), an oral contract for the sale of goods will not be enforceable if the total value of those goods is: A. More than $100. B. More than $500....

Q:

17- According to the Uniform Commercial Code (UCC) classifications of collateral, general intangibles include __________. Multiple Choice patents, copyrights, software, and franchises stocks, bonds,...

Q:

Mack's Bar sent Olive Outlet an order for 200 cases of olives to be shipped "as soon as possible." The day Olive Outlet receives Mack's order, it does not have 200 cases of olives in stock, so it...

Q:

According to the Uniform Commercial Code ( UCC ) , which of the following is correct regarding additional terms in an acceptance? They become part of the resulting sales contract when the sale is...

Q:

Ella owned a small business selling cookies to her neighbors and she required all her clients to sign contracts. One of Ella s regular customers frequently ordered a batch of "oat." "Oat." was short...

Q:

Instructions: The Legal Information Institute (LII) at Cornell University provides summaries of legal topics, including those related to the Uniform Commercial Code (UCC). Along with your textbook...

Q:

1. Do you agree or disagree with the decision in the Lambert case (p. 323, textbook). Explain by making EXPLICIT reference to any of the principles of Contract Law (say which one(s) you are using)...

Q:

Cengage 10 th Edition THE LEGAL ENVIRONMENT TODAY BUILDING SKILLS YOU WILL NEED TOMORROW Roger Leroy Miller Chapter 1 Unit 1. The Foundations 1. Law and Legal Reasoning Feverpitched/iStock/Getty...

Q:

Chapter 6 from The Legal and Ethical Environment of Business was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as...

Q:

The following information relates to Oz Ltd for the year ended 30 June 2020. Accounting profit before income tax: $150,000 Fines and penalties: $10,000 Depreciation expense of plant (accounting:)...

Q:

An example of when direct eye contact may be inappropriate is: Ca. When you are of a different gender and in certain cultures direct eye contact is forbidden. b. There is a wide age difference, and...

Q:

Determine the present value P you must invest to have the future value A at simple interest rate r after time t. A = $15,000, r = 5.5%, t = 7 years The present value that must be invested is $....

Q:

Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Company, which operates with monthly accounting periods. All of the companys...