requirements of commercial paper under article 3-1041. Does the following document meet the requirements of article 3- 104
( valid as commercial paper ) :Check # 1124 Date: 1/23/14I, the undersigned, promise to pay to Charles ChipAmount of: $500 DOLLARS : FIVE HUNDRED AND 00/100MEMO : _____________ Lina Q BrienYes 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 !