Examlex
Land improvements are generally eligible for cost recovery.
Variable Rate
An interest rate that can fluctuate over the duration of a loan or financial product based on changes in benchmark interest rates or market conditions.
Revised Article 3
An updated part of the Uniform Commercial Code dealing with negotiable instruments like checks and promissory notes, focusing on modernizing and clarifying the law.
Drawee
The party upon whom a check, draft, or bill of exchange is drawn and who is responsible for paying it.
Check
A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or to a specified person.
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