Question

Fill in the blanks with words that would best complete the passage.
1. customers
2. vendors
3. letters of credit
4. process
5. negotiable
____________of the Uniform Commercial Code sets forth the requirements for all instruments, including checks. ____________establishes a framework for deposit and checking arrangements between a bank and its________________ . _____________governs the relationships of banks with one another as they ______________ checks for payments.

Answer 1

Answer:

Vendors of the uniform commercial code sets forth the requirements for all instruments, including checks. Letter of credit establishes a framework for deposit and checking arrangements between a bank and its customers.

Vendor governs the relationships of banks with one another as they process checks for payments.

Answer 2

Answer:

Explanation:

VENDORS of the uniform commercial code sets forth the requirements for all NEGOTIABLE instrument, including checks.

LETTERS OF CREDIT establish a framework for deposit and checking arrangements between a bank and it's CUSTOMERS.

LETTERS OF CREDIT governs the relationship of banks with one another as they PROCESS checks for payment.