Under the UCC What Is the Difference Between a Sale

question 37

Multiple Choice

Under the UCC what is the difference between a sale and an ordinary lease?

• A) In a sale the buyer gets the right to possess the goods for a period of time, but in a lease the title passes to the lessor.
• B) In a sale the title passes to the buyer, but in a lease the lessee receives the right to possession and use for a period of time.
• C) In a sale, the title only passes to the buyer, if the buyer is a merchant; and in a lease the right to possession passes to the lessor even if the lessor is not a merchant.
• D) In a sale, the title passes to vendor and in a lease the supplier receives the right to possession and use.
• E) In a sale the buyer has a right to possession and use for a period of time, but in a lease the title passes to the vendor.

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Definitions:

Paralegal

A person trained in legal matters who assists lawyers in their work but is not a qualified attorney.

Mediator

A neutral third party who assists disputing parties in resolving conflicts through communication and negotiation techniques, without providing legal judgment.

Collaborative Law

A legal process enabling couples who have decided to separate or end their marriage to work with their lawyers and, on occasion, other family professionals to avoid the uncertain outcome of court and to achieve a settlement that best meets the specific needs of both parties and their children without the underlying threat of litigation.

Trial Court

The level of court in which a legal dispute is first heard and evidence is presented, as opposed to appellate courts.