What Is a Fixture

question 85

Multiple Choice

What is a fixture?

• A)personal property so closely associated with real property that it becomes part of the realty
• B)an intangible asset created within the parameters of certain real property
• C)a component of real property that is easily transferrable without substantial damage to the real property
• D)a tangible,physical item that cannot be classified as real property

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Definitions:

UCC

Stands for the Uniform Commercial Code, which is a comprehensive set of laws governing commercial transactions in the United States, including sales, leases, negotiable instruments, and secured transactions.

Sufficient Funds

A term indicating that an account has enough available money to cover transactions such as withdrawals, checks, or payments.

Money Orders

Payment orders for a specified amount of money that are a secure alternative to cash or personal checks.

UCC

Refers to the Uniform Commercial Code, a set of laws governing sales and commercial transactions in the United States.