Under Article 3 of the UCC, a Note Is

question 260

Multiple Choice

Under Article 3 of the UCC, a note is:

• A) an unconditional written order to pay that involves three parties: drawer, drawee, payee; the drawee may be a bank, person, or business; payment may be set at some future time
• B) an unconditional written order to pay that involves three parties: drawer, drawee, and payee; the drawee must be a bank; payment must be "on demand"
• C) an acknowledgment by a bank that it has received money from a customer with a promise from the bank that it will repay the money received either at a specified date or upon demand; two parties are involved: a maker and a payee
• D) an acknowledgment by a bank that it has received money from a maker ordering the bank to pay the money received either upon demand to the payee
• E) none of the other choices

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Definitions:

Television Privileges

The allowance or permission granted by an authority (such as parents or guardians) regarding the use of television.

Substance's Quantity

The measurable amount or volume of a chemical or material, often assessed in terms of mass, concentration, or volume in a given context.

Years Old

A measurement of time that signifies the age of an individual or entity from their date of birth or inception, expressed in years.

Form

in art and design, refers to the visible shape or configuration of something, giving it structure and coherence.