In States That Have Adopted It, the UETA

question 10

Multiple Choice

In states that have adopted it, the UETA:

• A)encourages and gives full effect to electronic contracts.
• B)gives full effect to emergency transactions.
• C)supplements and covers all of the UCC.
• D)covers wills, codicils, and testamentary trusts.

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Definitions:

Listed

Refers to a company or security that is officially registered and available for trading on a public stock exchange.

No-liability

A type of company structure where shareholders are not obliged to contribute additional equity to cover company debts in case of insolvency.

Limited by Guarantee

A form of incorporation used primarily by non-profit organizations where the liability of the members is limited to the amount they agree to contribute if the company is wound up.