Asked by Ismael Colon on Jun 01, 2024
Verified
Special requirements for the form and content of negotiable instruments are imposed by
A) the Lex Mercatoria as codified in England.
B) the Uniform Commercial Code.
C) none of the choices.
D) rules developed by merchants in the medieval world.
Negotiable Instruments
Financial documents that promise payment to the holder under specific conditions, including checks, promissory notes, and bills of exchange.
Lex Mercatoria
Lex Mercatoria, also known as the law merchant, is a body of commercial law used by merchants throughout Europe during the medieval period, forming the basis of modern commercial law.
- Recognize the role and application of the Uniform Commercial Code in governing negotiable instruments.
Verified Answer
UW
Urvashi WaliaJun 05, 2024
Final Answer :
B
Explanation :
The Uniform Commercial Code (UCC) imposes special requirements for the form and content of negotiable instruments, standardizing commercial transactions across the United States.
Learning Objectives
- Recognize the role and application of the Uniform Commercial Code in governing negotiable instruments.
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