The Main Objective of Article 3 of the UCC and the Law

question 81

Multiple Choice

The main objective of Article 3 of the UCC and the law of commercial paper is to:

• A) create a nonnegotiable instrument.
• B) create legal money.
• C) create an instrument to be accepted in place of money in commercial transactions.
• D) guarantee the payment of all transactions.
• E) prevent fraud.

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Definitions:

Working People

Refers to individuals who are currently employed or are part of the labor force.

Survey

A method of gathering information from a sample of individuals designed to represent a larger population, often used in research to collect data on attitudes, opinions, behaviors or characteristics.

Preferred Brand

A brand that consumers favor over comparable brands due to factors like quality, performance, price, or emotional connection.

Significance Level

This represents the threshold below which the p-value of a test statistic must fall for results to be considered statistically significant, thus leading to the rejection of the null hypothesis.