D is corrent. A trade acceptance is a special type of draft in which a seller of goods extends credit to the buyer by drawing a draft on that buyer directing the buyer to pay the seller a sum of money on a specified date. The seller is therefore both the drawer and payee in a trade acceptance. A is incorrect. The UCC regards trade acceptance as drafts which are commercial paper. B is incorrect. Commercial paper may be payable to order or to bearer, although a check need not be payable to order or bearer. C is incorrect. A trade acceptance is commercial paper that calls for payment in money.
