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Identifying the Facts and Issues The Uniform Commercial Code (UCC) has the following requirements...

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Accounting

Identifying the Facts and Issues
The Uniform Commercial Code (UCC) has the following requirements for instruments to be
negotiable: the instrument must be in writing, the instrument must be payable to order of or
to the bearer, the instrument must include an unconditional promise, the instrument must
state a fixed amount of money, the instrument must be payable on demand, and
the instrument must state a variable amount of money
A transfer of an order instrument requires the
of the payee. An
indorsement is a
select answer
, which is typically placed
select answer
.
Generally, the purpose of an indorsement on an instrument is to
select answer
. The
checks deposited by Jacob
select answer
not indorsed by MPTC. Therefore, Peoples
Bank
select answer
accepted the checks for deposit.
image

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