Identify the Statement That Holds True of Revised Article 3

question 37

Multiple Choice

Identify the statement that holds true of revised Article 3 of the Uniform Commercial Code regarding checks.

• A) Under revised Article 3, an instrument does not qualify as a check if it contains the engraving "money order" on its face.
• B) Revised Article 3 prevents an instrument from meeting the "unconditional promise" if it requires a countersignature of a person whose specimen signature appears on the draft.
• C) Under revised Article 3, a payor bank may pay a postdated check before the stated date unless the drawer has notified the bank of postdating pursuant to a procedure set out in the Code.
• D) Revised Article 3 states that an instrument which names a fixed time for payment should not contain a clause permitting the time for payment to be accelerated at the option of the maker.

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Definitions:

Sizing Handle

A graphic tool in user interfaces that allows users to manually adjust the size of an element.

Macro Dialog Box

A user interface element that prompts users to input or confirm information when executing a macro, which is a set of automated commands in software applications.

Workbook

A file containing one or more spreadsheets, used in programs like Microsoft Excel for organizing data.

Macros

Automated sequences of computer commands or scripts designed to simplify repetitive tasks within software applications.