Examlex
Which of the following is true?
Revised Article 3
Amendments and updates to Article 3 of the Uniform Commercial Code (UCC), which primarily deals with negotiable instruments like checks.
Accommodation Maker
An individual or entity that signs a negotiable instrument on behalf of another party, without receiving any benefit, to ensure that the instrument is accepted or paid.
Promissory Note
A financial document in which one party promises to pay another party a specific sum of money at a specified time or on demand.
Discharged
In a legal or financial context, it refers to being freed from a debt, obligation, or liability.
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