According to the UCC,an Enforceable Agreement Involving the Transfer of Title

question 64

Multiple Choice

According to the UCC,an enforceable agreement involving the transfer of title of goods from a seller to a buyer for a price is called a(n) :

• A) commercial contract.
• B) express contract.
• C) formal contract.
• D) sale.

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Definitions:

Preferred Stock

A type of stock issued by corporations, which gives holders a right to share in earnings and liquidation before common shareholders do.

Capital Stock

The general term applied to the shares of a corporation.

Preferred Stock

A class of ownership in a corporation that has a higher claim on the assets and earnings than common stock.

Capital Stock

The total amount of shares that a corporation is authorized to issue, as represented in its financial statements.