Under the Uniform Commercial Code (UCC), a Firm Offer Applies

question 40

Multiple Choice

Under the Uniform Commercial Code (UCC) , a firm offer applies to:

• A) a written, signed offer by a merchant to buy or sell goods.
• B) an unwritten but definite offer to buy or sell goods.
• C) a written, signed offer by anyone to buy or sell goods.
• D) an unlimited, stipulated period of time.

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Definitions:

Real Property

Refers to land and any permanent structures or improvements attached to the land, such as buildings or houses.

Debt

Money owed by one party to another under conditions of repayment.

Shipping Dock

A platform situated at the edge of a warehouse or facility where goods are loaded onto or unloaded from vehicles or ships.

Guarantee Payment

A promise or assurance, typically by a third party, to assume responsibility for another's debt or obligation if they fail to fulfill it.