Third Corp. agreed to purchase goods from Silk Corp. Third could not pay for the...
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Third Corp. agreed to purchase goods from Silk Corp. Third could not pay for the goods immediately. A draft was then drawn by Silk ordering Third to pay Silk the price of the goods at a specified future date. Third signed the draft and returned it to Silk. Under the Negotiable Instruments Article of the UCC, what type of draft was created?
A trade acceptance
A letter of credit
A bank draft
A check
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