Section 2A-201(1)of the Uniform Commercial Code States Which of the Following

question 20

Multiple Choice

Section 2A-201(1) of the Uniform Commercial Code states which of the following?

• A)All lease contracts must be in writing.
• B)Lease contracts involving payments of $1, 000 or more must be in writing.
• C)All sales contracts must be in writing.
• D)Sales contracts involving payments of $500 or more must be in writing.

---

Definitions:

Economic, Legal, Ethical Expectations

Standards and norms guiding behavior in regards to financial operations, adherence to laws, and moral principles in business or personal conduct.

Well-Being

The state of being comfortable, healthy, or happy, reflecting the overall quality of an individual's life.

Corporate Governance

A framework of rules, practices, and processes by which a company is directed and controlled, focusing on balancing the interests of its various stakeholders.

Board of Directors

A group of individuals elected to represent shareholders and make major decisions regarding the corporation such as corporate policy, strategy, and overall direction.