Documents used as payments to facilitate commercial transactions were labeled as negotiable instruments under ________.

A) the common law
B) Article 2 of the UCC
C) Article 2 and 3 of the UCC
D) Article 3 of the UCC
E) certain state statutes

Negotiable Instruments

Financial instruments that are transferable by endorsement or delivery, allowing the holder to take possession of the funds, such as checks or promissory notes.

UCC

The extensive legal provisions of the Uniform Commercial Code cover all forms of commercial transactions occurring in the United States.

Commercial Transactions

Deals or agreements between parties that involve the exchange of goods, services, or funds in the course of business operations.