If a Transferred Negotiable Instrument Fails to Qualify Under Article

question 67

Multiple Choice

If a transferred negotiable instrument fails to qualify under Article 3 of the Uniform Commercial Code (UCC) , it is known as a(n) ________.

• A) assignment
• B) nonnegotiable contract
• C) indorsement
• D) restrictive indorsement

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Definitions:

Public Sector

The part of the economy comprised of government services and enterprises, including infrastructure, public education, and healthcare.

Economic Efficiency

A state where resources are allocated in a way that maximizes the production of goods and services.

External Cost

Uncompensated costs that individuals or firms impose on others outside of market transactions, often associated with pollution.