Under the UCC Statute of Frauds, the Writing for a Sale

question 28

Multiple Choice

Under the UCC Statute of Frauds, the writing for a sale of goods must

• A)state the quantity.
• B)state the price.
• C)be signed by both parties.
• D)be notarized.

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Definitions:

Readily Marketable

Assets that can be quickly converted into cash with minimal impact on their price.

Management's Intent

The intentions or planned actions of a company's management, often related to investments, operations, or financial decisions.

Liquid Securities

Financial instruments and assets that can be quickly converted into cash without significantly affecting their market price.

Debt Securities

Financial instruments representing money borrowed that must be repaid, such as bonds, notes, or bills, typically with periodic interest payments.