Which of the Following Does the UCC Define as "Honesty

question 48

Multiple Choice

Which of the following does the UCC define as "honesty in fact in the conduct or transaction concerned?"

• A)Good faith
• B)Value
• C)Bona fide
• D)Pure

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Definitions:

Consideration

Something of value promised to another when making a contract.

Unilateral Contract

An agreement in which only one party makes a promise to perform in exchange for an act by the other party.

Acceptance

The act of receiving or agreeing to something, such as a proposal or offer, thus constituting a contract.

Performance

The execution, accomplishment, or fulfillment of a promise, contract, or other obligation.