Which Section of the UCC Will Govern the Supplying of a Missing

question 68

Multiple Choice

Which section of the UCC will govern the supplying of a missing price in a commercial transaction?

• A)2-306
• B)2-305
• C)2-307
• D)2-401

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Definitions:

Construction Lien

A legal claim against a property by a contractor or subcontractor who has not been paid for work performed or materials supplied in improving that property.

Building Contract

A legal agreement between a property owner and a contractor outlining the construction or renovation of a building, including terms like scope of work, payment, and timelines.

Registration Of The Lien

The official recording of a lien, which is a legal right or interest that a lender has in the borrower's property, until a debt is paid off.

Material

Relating to, derived from, or consisting of matter; physical.