Asked by Kajal Barsiwal on Jun 22, 2024
Verified
Under the Revised Article 3 of the UCC,variable interest rate notes are not negotiable.
Variable Interest
An interest rate that can fluctuate over time, often based on a standard financial index, in contrast to a fixed interest rate.
Revised Article 3
Refers to the updated section of the Uniform Commercial Code (UCC) that governs negotiable instruments, including the processes for issuing, transferring, and enforcing such documents.
Negotiable
Capable of being transferred or endorsed from one party to another in accordance with the law, generally referring to legal documents like checks.
- Establish the specifications for an instrument's negotiability pursuant to the Uniform Commercial Code (UCC).
Verified Answer
Learning Objectives
- Establish the specifications for an instrument's negotiability pursuant to the Uniform Commercial Code (UCC).
Related questions
Postdating an Instrument Will Not Destroy Its Negotiability
To Be Negotiable, the Instrument Must Satisfy All Except Which ...
A Provision in a Promissory Note Payable One Year from ...
In a Sales Contract,how Can the Buyer Make Payment ...
A Written Document Containing the Signature of the Creator That ...