The Uniform Electronic Transaction Act (UETA)

question 14

Multiple Choice

The Uniform Electronic Transaction Act (UETA) :

• A) is a federal statute which declares that a contract or signature may not be denied enforceability simply because it is in electronic form.
• B) is the law in at least 48 states and territories, and it validates contracts or signatures made in electronic form.
• C) applies to any state that has not adopted E-Sign to validate electronic transactions which are uniform from one company to another.
• D) provides a format or model for electronic contracts for the sale of goods so that such contracts will be uniform throughout the United States.

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Definitions:

Negotiable Order of Withdrawal Accounts

Bank accounts that allow the depositor to write checks against the money deposited, acting similarly to checking accounts.

Money Market Accounts

Accounts that offer higher interest rates than standard bank rates but with greater restrictions.