By Definition,a Sale Under Article 2 of the UCC Requires

question 19

Multiple Choice

By definition,a sale under Article 2 of the UCC requires:

• A) that the parties involved be merchants.
• B) that the product involved be goods, services, or a mixture; that the sale be between or among merchants; and that the sale take place in the normal course of business for that industry.
• C) that title to the goods pass between the seller and the buyer and that a price be paid for the goods.
• D) that the service being sold cannot be a gift or a bailment.

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Definitions:

Issuing Firm

A company or entity that offers securities for sale to the public or private investors, often to raise capital.

Bond Market

A financial market where participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the secondary market, primarily in the form of bonds.

Capital

Financial assets or the financial value of assets, such as cash, that can be used by a company to fund its operations and investments.

New Bonds

New bonds refer to debt securities that have been recently issued by a corporate or governmental entity to raise capital for various purposes.