According to the UCC, Which of the Following Is True

question 76

Multiple Choice

According to the UCC, which of the following is true regarding when a person has notice of a fact?

• A) Under the UCC a person has notice of a fact only when the person has actual knowledge of the fact.
• B) Under the UCC a person has notice of a fact under the following two circumstances: (1) when the person has actual knowledge of the fact, and (2) when the person receives notice or notification of the fact.
• C) Under the UCC a person has notice of a fact under the following three circumstances: (1) when the person has actual knowledge of the fact, (2) when the person receives notice or notification of the fact, and (3) when the person has reason to know the fact exists.
• D) Under the UCC a person has notice of a fact only when the person has signed a verification to the effect that notice was received.
• E) Under the UCC a person has notice of a fact only when the person receives written notification either through regular mail or electronic means.

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Definitions:

Employment Standards

Regulations that define the minimum terms of employment, including hours, pay, leave entitlements, and working conditions.

Minimum Wage Rates

The lowest legal hourly pay that employers can give to workers, as set by government regulations.

Overtime Payments

Compensation paid to employees for working beyond their standard hours, typically at a higher rate.

Compensable Factors

Elements of a job that are used to determine its value and appropriate compensation, such as skills required, effort, responsibility, and working conditions.