Article 2A,in a Provision Analogous to Article 2's Warranty of Title

question 29

True/False

Article 2A,in a provision analogous to Article 2's warranty of title provision,protects the lessee's right to possession and use of the goods from claims of other parties arising from an act or omission of the lessor.

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Definitions:

Limited Liability Company

An organizational model that integrates the tax treatment of a partnership or sole proprietorship with the benefit of limited liability offered by a corporation.

Establish

To set up or lay the foundation for something, often referring to creating a new business, institution, or system.

General Partners

Individuals in a partnership who have full liability for the debts of the partnership and take part in managing the business.

Conversion Clause

A provision in a contract or policy allowing for the change of one form of benefit or contract to another, such as converting from a term to a whole life insurance policy.