Under Article 3 of the UCC, a Check Is

question 448

Multiple Choice

Under Article 3 of the UCC, a check is:

• A) an unconditional written order to pay that involves three parties: a 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 two parties: drawer and payee; the payment is at an agreed upon future date
• 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 future date
• 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 either at a specified date or upon demand; two parties are involved: a maker and a payee
• E) none of these

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Definitions:

Psychological Processes

Mental activities involved in acquiring, processing, and storing knowledge, which influence behavior and perception.

Cultural Differences

Refers to the diverse customs, beliefs, practices, values, norms, and materials among people from different backgrounds.

Preferential Treatment

The act of giving advantages or benefits to a person or a group over others not based on merit but often due to other factors like status, relationship, or bias.

Genetically Predisposed

Having a likelihood of developing certain traits or conditions based on one's genetic makeup.