A Contract Can Be Based on Which of the Following

question 35

Multiple Choice

A contract can be based on which of the following? ​

• A)Common law
• B)Uniform Commercial Code
• C)Both a and c
• D)None of the above

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Definitions:

Trademarks

Symbols, names, phrases, or logos legally registered or established by use as representing a company or product.

Unrealized Inventory Profits

Profits that have been recorded on paper due to an increase in inventory value but have not been realized through sales.

Significant Influence

The power to participate in the financial and operating policy decisions of an investee, without having control over those policies.

Preferred Share Issue

The process of offering preferred shares to investors, which are stock shares that have priority over common shares in dividend payments and asset liquidation, but usually do not have voting rights.