Under Article 3 of the UCC, a Check Is an Unconditional

question 222

True/False

Under Article 3 of the UCC, a check is an unconditional written order to pay that involves three parties in distinct capacities: drawer, drawee, and payee. The drawee must be a bank. Payment must be "on demand."

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Definitions:

Price Appreciation

An increase in the value of an asset over time, not accounting for dividends or interest.

Rate of Return

Rate of return is the gain or loss of an investment over a specified period, expressed as a percentage of the investment's initial cost.

Market Rate of Return

The average or expected return of the marketplace on investments, often used as a benchmark to assess the performance of individual investments or portfolios.

Annual Dividend

The total dividend payment issued to shareholders over a one-year period, reflecting the company's profit distribution policy.