Odometer Fraud Involves

question 16

Multiple Choice

Odometer fraud involves:

• A) manipulating odometers in taxis in order to charge higher prices to customers.
• B) stealing odometers from cars and smuggling them to other countries.
• C) manipulating odometers of used cars in order to charge higher prices.
• D) removing odometers from used cars and inserting them in new cars.

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Definitions:

Fixed Price

A set price that does not change, regardless of variations in market conditions or costs of production.

UCC

An extensive assembly of legal norms, the Uniform Commercial Code, presides over the entirety of commercial exchanges in the United States.

Merchant

An entity that sells goods or services in exchange for money, usually within the retail or business-to-business markets.

UCC Applies

Refers to situations where the Uniform Commercial Code, a set of laws governing commercial transactions in the United States, is applicable.