For a Case to Serve as a Binding Authority It

question 148

Multiple Choice

For a case to serve as a binding authority it must be

• A) similar.
• B) on point.
• C) decided by an inferior court.
• D) decided by a superior court.
• E) on point and be decided by a superior court.

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Definitions:

UCC

The Uniform Commercial Code, a set of laws that govern commercial transactions in the United States.

Consideration

An element of a contract involving something of value exchanged between parties, which can include money, services, or promises, necessary for a valid contract.

E-mail

A method of exchanging messages between people using electronic devices, widely used for both personal and professional communication.

Promise

A declaration or assurance that one will do a particular thing or ensure that a particular thing happens.