Which of the Following Is True of the Articles of the UCC

question 48

Multiple Choice

Which of the following is true of the articles of the UCC that deal with the law of commercial paper?

• A)The law of commercial paper is covered in Article 3 and Article 4 of the Uniform Commercial Code.
• B)Revised Article 3 of the UCC developed in 1990 has now been adopted by almost all the states.
• C)The law of commercial paper is covered only in Article 3 of the UCC that deals with negotiable instruments.
• D)Negotiable documents,such as investment securities and documents of title,are also treated in Article 3 of the UCC.

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Definitions:

Desert Island

A secluded and uninhabited island, often used in scenarios and thought experiments in economics and ethics to explore human behavior in isolation.

Competitive Equilibrium

A market situation where supply equates demand, leaving no incentive for price changes, assuming all agents are price-takers.

Perfect Substitutes

Items that can replace each other without affecting the consumer's satisfaction negatively.

Perfect Complements

Goods that are consumed together in fixed proportions because the consumption of one enhances the value or utility of the other.