If a UCC Contract Does Not Contain All the Terms

question 31

True/False

If a UCC contract does not contain all the terms necessary to carry it out,there will be no contract.

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Definitions:

Common Stock

A form of corporate equity ownership, a type of security representing an ownership share in a corporation.

Common Stock Subscribed

Common stock subscribed refers to shares that investors have committed to purchase but have not yet been issued by the company.

Par Value

The nominal or face value of a bond, stock, or coupon as stated by the issuer.

Preferred Stock

A class of ownership in a corporation with a specified dividend that must be paid out before dividends to common stockholders.