Under the UCC, Which of the Following Is NOT One

question 2

Multiple Choice

Under the UCC, which of the following is NOT one of the elements that must be present for a contract to exist?

• A) The signature of the party against whom enforcement is sought.
• B) The price of the goods sold.
• C) A statement of the quantity of goods sold.
• D) Some sort of indication that the agreement exists.
• E) All of the above elements must be present for a UCC contract to exist.

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Definitions:

Debt

An amount of money borrowed by one party from another, under the condition that it is to be paid back at a later date, usually with interest.

Garnishment

Garnishment is a legal process by which a creditor can collect what a debtor owes by requiring a third party to turn over the debtor’s assets.

Judgment

A formal decision or determination made by a court regarding the rights and liabilities of the parties in a legal action.

Sheriff

An elected official in a county or independent city responsible for keeping peace and enforcing the law, often involved with serving legal documents and managing jails.