Question: The Uniform Commercial Code (UCC) is intended to do which of the following? Multiple Choice The UCC is intended to guarantee that all fifty states

The Uniform Commercial Code (UCC) is intended to do which of the following?

Multiple Choice

  • The UCC is intended to guarantee that all fifty states have the same law pertaining to transactions regarding the sale of goods.

  • The UCC is intended to have in place federal statutes for all sales and lease transactions that fall under Article 2 and Article 2A of the UCC.

  • The UCC is intended to allow each state to rewrite parts of the UCC to reflect the wishes of its state legislature.

  • The UCC is intended to require that all merchants use the same standard when engaging in sales and lease transactions that are governed by the UCC.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Geoff Brown is the manager for a small telemarketing firm and is evaluating the sales rate of experienced workers in order to set minimum standards for new hires. During the past few weeks, he has...

Q:

Carpet Woes. Beau went shopping at ABC Carpet. He saw some carpet he liked but could not make up his mind. The manager at ABC Carpet wrote down the proposed purchase price for him along with a...

Q:

What is the stated purpose of the statute of frauds? To allow hearsay evidence to be introduced at trial to prove a contract existed To allow oral evidence to be admitted at trial indicating...

Q:

Week 4 assignment Business law. In Chapter 8, we pointed out that promises and agree- ments, and the knowledge that some of those promises and agreements will be legally enforced, are essential to...

Q:

Chapter 6 from The Legal and Ethical Environment of Business was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as...

Q:

Administrative Law 5 A dministrative law governs and defines the powers of government agencies. A number of political and technological factors have led to an explosion in the growth of government...

Q:

Discuss various research aspects of this case: is this opinion still precedent? if not, why not? In the United States Court of Federal Claims No. 05-608 C E-Filed: March 27, 2006...

Q:

What was the holding in that Court? In the United States Court of Federal Claims No. 05-608 C E-Filed: March 27, 2006 _____________________________________ ) FRANCISCO JAVIER RIVERA AGREDANO ) and )...

Q:

Discuss various researchaspects of this case: Were there any subsequent rulings by a Court of Appeal? Which Court of Appeal? What was the holding in that Court? In the United States Court of Federal...

Q:

Chapter 10 from Business Law and the Legal Environment was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested...

Q:

Cengage 10 th Edition THE LEGAL ENVIRONMENT TODAY BUILDING SKILLS YOU WILL NEED TOMORROW Roger Leroy Miller Chapter 1 Unit 1. The Foundations 1. Law and Legal Reasoning Feverpitched/iStock/Getty...

Q:

Suppose that Alberty had been a full-time, hourly worker and that such status was common among television hosts, but WIPR had manipulated the benefits and tax withholdings to favor...

Q:

Gator Corporation manufactures several types of accessories. For the year, the gloves and mittens line had sales of $500,000, variable expenses of $370,000, and fixed expenses of $150,000. Therefore,...

Q:

YM Co . is trying to estimate its optimal capital structure which only has debt and equity. Right now, YM has a capital structure that consists of 3 9 % debt. If YM has a beta of 1 . 2 5 and pays tax...

Q:

In discussing book value of common stock, which statement below is not correct? Multiple Choice The terms "issued" and "outstanding" are synonymous when discussing the number of common shares. Book...