Understanding UCC Article 3: Money vs. Negotiable Instruments

This chapter explores the intricacies of Article 3 of the UCC, focusing on the differentiation between money and negotiable instruments, including their historical roots traced back to the Coinage Act of 1792. It highlights the significance of bills as negotiable instruments and discusses the economic implications of transitions in monetary standards, particularly post-Civil War. Throughout the discussion, the chapter emphasizes the importance of understanding these legal definitions in the context of modern financial practices.