A signed promissory note stating "I promise to pay to Bonnie Ramcell $600 on December 15, 2014" is not covered by Article 3 of the UCC.

Question

Quizplus · Accepted Answer

Article 3 of the UCC covers negotiable instruments such as checks, drafts, and certain types of promissory notes, but not all promissory notes. The note described in the question is a simple promissory note and is not considered a negotiable instrument under Article 3.

A Signed Promissory Note Stating "I Promise to Pay to Bonnie