Which of the Following Contracts Is Covered by Article 2

question 20

Multiple Choice

Which of the following contracts is covered by Article 2 of the Uniform Commercial Code?

• A) The sale of a house
• B) The sale of a new car
• C) An employment agreement
• D) A sale of automobile insurance

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Definitions:

Market Price

The market rate at which an asset or service can currently be sold or bought.

Stock Split

A corporate action where a company divides its existing shares into multiple shares to boost the liquidity of the shares.

Shares Outstanding

The total number of shares of stock that are held by all shareholders, including share blocks held by institutional investors and restricted shares.

Dividend Income

Income received from owning shares in a company, paid out from the company's earnings to its shareholders.