Under Article 3 of the UCC, a Draft Is

question 382

Multiple Choice

Under Article 3 of the UCC, a draft 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 a future time
• B) an unconditional written order to pay that involves three distinct parties: drawer, drawee, and payee; the drawee must be a bank; payment must be "on demand"
• C) a promise by one party to pay a certain sum of money to another party; two parties are involved: the maker and the payee; payment may be set at some time in the future
• D) 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 at a specified date or upon demand; two parties are involved: a maker and a payee
• E) none of the other choices

---

Definitions:

Self-Awareness

The conscious knowledge of one's own character, feelings, motives, and desires, which can influence behavior and decisions.

External Locus of Control

A belief system where individuals think that their successes or failures result from external factors beyond their control.

Decisions

The process of making choices between alternative courses of action based on preferences, values, and available information.

Locus of Control

An individual's belief system regarding the causes of his or her experiences and the factors to which that person attributes success or failure.