Which of the following is true of the articles of the Uniform Commercial Code?
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 Uniform Commercial Code developed in 1990 has now been adopted by all the states.
C) The law of commercial paper was originally adopted in Article 5 of the Uniform Commercial Code.
D) Negotiable documents, such as investment securities and documents of title, are not treated in the Uniform Commercial Code.

Question

Quizplus · Accepted Answer

The law of commercial paper is covered in Article 3 (Negotiable Instruments) and Article 4 (Bank Deposits and Collections) of the Uniform Commercial Code. Other negotiable documents, such as investment securities and documents of title, are treated in other articles of the Code. Revised Article 3 of the UCC, developed in 1990, has now been adopted by all the states except New York.

Which of the Following Is True of the Articles of the Uniform