Asked by Christin Evans on May 20, 2024
Verified
Under the UCC, money orders are considered checks.
Money Orders
Payment orders for a specified amount of money that are a secure alternative to cash or personal checks.
UCC
Refers to the Uniform Commercial Code, a set of laws governing sales and commercial transactions in the United States.
Checks
Banking instruments that order a bank to pay a specific amount of money from the writer's account to the person or entity in whose name the check has been issued.
- Gain insight into the individual traits and utilities of several types of checks and negotiable instruments as prescribed by the UCC.
Verified Answer
Learning Objectives
- Gain insight into the individual traits and utilities of several types of checks and negotiable instruments as prescribed by the UCC.
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