The UCC Permits a Contract to Be Enforced If the Parties

question 5

True/False

The UCC permits a contract to be enforced if the parties intended a binding contract,even though important terms may have been left open for later agreement.

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Definitions:

Voting Shares

Shares that give the shareholder the right to vote on matters of corporate policy and the selection of board members.

Investment Account

A financial account held at a bank or brokerage that is used to hold securities, stocks, bonds, and other investments.

Unamortized Acquisition Differential

The portion of the difference between the purchase price and the book value of an acquired entity that has not yet been amortized.

Equity Method

An accounting technique used by a company to record its investment in another company based on the profit or loss and other comprehensive income of the investee.