Types of Commercial Paper

The video tutorial explains financial instruments, focusing on notes and drafts. Notes involve two parties and are an unconditional promise to pay the holder at a specific time or on demand. Drafts involve three parties, where the drawer orders a third party to pay the holder. The video also clarifies that checks are a type of draft and certificates of deposit are a type of note, according to the Uniform Commercial Code.

What new insight or understanding did you gain from this video?