Which of the following instruments is subject to the provisions of the Negotiable Instruments Article of the UCC?
a. A bill of lading.
b. A certificate of deposit.
c. An investment security.
d. A warehouse receipt.
Explanation
Choice "b" is correct.
Checks, drafts, promissory notes and certificates of deposits are within the provisions of the Negotiable Instruments Article of the UCC (Article 3).
Choice "a" is incorrect.
A bill of lading is governed by Article 7.
Choice "d" is incorrect.
A warehouse receipt is governed by Article 7.
Choice "c" is incorrect.
Investment securities (e.g., stocks and bonds) are governed by Article.
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