Choice "C" is correct. Commercial paper includes drafts and notes. Thus, it covers an installment note [UCC 3-104].
Choice "a" is incorrect. The commercial paper article specifically excludes investment securities such as corporate bonds [UCC 3-103(1)], which are covered under Article 8.
Choice "b" is incorrect. The commercial paper article specifically excludes documents of title [UCC 3-103(1)], which includes warehouse receipts governed by Article 7.
Choice "d" is incorrect. The commercial paper article specifically excludes documents of title [UCC 3-103(1)], which includes bills of lading governed by Article 7.
