Asked by Christian Rivera on Apr 26, 2024
Verified
Negotiation,as defined by the UCC in section 3-201,is the transfer of a negotiable instrument by one person to another person.
Negotiation
The process of discussing an issue between two or more parties with competing interests to reach an agreement or compromise.
Transfer
In legal terms, it refers to the act of moving the ownership, title, or rights of a property or asset from one entity to another.
- Comprehend the processes and legal conditions around negotiation, indorsement, and transferral of negotiable instruments as per UCC.
Verified Answer
RS
Rajvir SinghMay 01, 2024
Final Answer :
True
Explanation :
UCC section 3-201 defines negotiation as the transfer of possession of a negotiable instrument by a person to another person who becomes the holder.
Learning Objectives
- Comprehend the processes and legal conditions around negotiation, indorsement, and transferral of negotiable instruments as per UCC.
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