Under Article 2(A) of the UCC, the ________ Is the Person

question 80

Multiple Choice

Under Article 2(A) of the UCC, the ________ is the person who transfers the right to possession and use of goods under a lease.

• A) lessor
• B) lessee
• C) assignor
• D) agent
• E) actuary

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Definitions:

Covenants

Legally enforceable promises contained in a contract or agreement.

Competing

Engaging in an effort to win or succeed against others, often in business, sports, or other areas of life.

Option Agreements

Legal contracts that give the holder the right, but not the obligation, to buy or sell an asset at a predetermined price and date.

Assignment of Rights

The transfer of rights or interests in a contract or property from one party to another.