Posted: March 26th, 2015

equirements of commercial paper under article 3-104

requirements of commercial paper under article 3-104

1. Does the following document meet the requirements of article  3- 104
( valid as commercial paper ) :

Check #  1124                                                                                                                                                       Date: 1/23/14

I, the undersigned, promise to pay to Charles Chip

Amount of: $500  DOLLARS : FIVE HUNDRED AND 00/100

MEMO : _____________                                         Lina Q ‘ Brien

Yes or No
If yes, no further information is required.
if no, please explain.

2. Assuming it is not commercial paper- is it a contract and if so what type ?

3. Assuming it is commercial paper what are the two things Charles Chip can do with the instruments?

PLEASE FOLLOW UP THE QUESTIONS AND GIVE YOUR BEST ANSWERS I NEED THEM TO BE ANSWERED IN AT LEAST ONE FULL PARAGRAPH
IF ANY QUESTIONS OCCUR< FEEL FREE TO CALL ME OR EMAIL ME !