The Uniform Commercial Code (UCC) Differs from the United Nations

question 28

Multiple Choice

The Uniform Commercial Code (UCC) differs from the United Nations Convention on Contracts for the International Sale of Goods (CISG) in that the:

• A) UCC does not require contracts to be in writing, while CISG requires contracts for the sale of goods in excess of $300 to be in writing.
• B) CISG applies to the sale of consumer transactions, while the UCC governs both consumer and commercial transactions.
• C) UCC holds merchants to higher standards in some circumstances, while the CISG does not make a distinction between merchants and nonmerchants.
• D) CISG applies to both consumer and commercial transactions, while the UCC applies only to commercial sales of goods.

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Definitions:

Small Business Health Options Program

A component of the health insurance marketplace that allows small businesses to provide health coverage options to their employees.

Health-Care Tax Credit

a government incentive designed to make health insurance more affordable for individuals and families by reducing their taxes.

Business-Expense Tax Deduction

A reduction in taxable income for businesses, for costs that are considered necessary and ordinary in running the business.

Fair Labor Standards Act

U.S. legislation aimed at protecting workers against unfair pay and excessive working hours, establishing minimum wage and overtime pay guidelines.