Which Statement Is Correct Regarding the UCC and Norms in the Industry

question 35

Multiple Choice

Which statement is correct regarding the UCC and norms in the industry?

• A) The UCC requires that courts consider norms in a particular trade only if consumer goods are involved.
• B) The UCC allows courts to consider norms in a particular trade only if the perfect tender rule has been satisfied.
• C) The UCC requires that courts consider norms in a particular trade.
• D) The UCC does not require that courts consider norms in a particular trade.
• E) The UCC requires that courts consider norms in a particular trade only if goods with a unit price of over $500 are involved.

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Definitions:

Psychological Ownership

The feeling of possessiveness and attachment that a person develops for something they do not legally own.

Legal

Pertaining to laws or the practice of law; conforming to the law or to the rules of a legal institution.

Pay Plan

The system or structure an organization uses to compensate its employees, including wages, salaries, bonuses, and benefits.

Training Costs

Training costs refer to the expenses associated with developing and delivering training programs to improve employee skills, knowledge, and performance.