Under the UCC,identifying Goods to Which a Contract Refers Gives

question 51

Multiple Choice

Under the UCC,identifying goods to which a contract refers gives the buyer a special property interest which permits the holder to:

• A) insure the goods.
• B) immediately transfer title to the goods.
• C) take immediate possession of the goods from the seller.
• D) sue the seller for improper treatment of the goods.

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Definitions:

Check

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or to a specified person or entity.

Issued

Released or distributed officially by an authority, such as documents, currency, or rulings.

Bank Clears

The process by which a bank processes transactions and settles payments between parties.

Negotiability

The quality of a financial instrument that allows it to be transferred or assigned from one party to another in exchange for value.