Mining Corporation Purchases the Business Assets of Open Pit Inc

question 68

Multiple Choice

Mining Corporation purchases the business assets of Open Pit Inc., including its equipment and supplies, for an agreed-to price, payable in installments. Under the UCC, this transaction is

• A)a contract for services.
• B)a sublease.
• C)a lease.
• D)a sale.

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Definitions:

Ornithologist

A scientist who studies birds and their behaviors, habitats, and physiology.

Spotted Owls

A species of owl known for its distinctive spots, native to North America, and considered an indicator of old-growth forest health.

SARA

An acronym standing for the Species at Risk Act, a Canadian law enacted to provide for the recovery of wildlife species that are at risk of extinction.

Captive Breeding

A conservation strategy involving the breeding of endangered species in controlled environments, such as wildlife reserves or zoos, with the aim of reintroducing them to their natural habitats.