A Standard Determined in Terms of the Business Judgment of Reasonable

question 39

Multiple Choice

A standard determined in terms of the business judgment of reasonable persons familiar with the practices customary in the type of transaction involved and in terms of the facts and circumstances of the case is:

• A)good faith.
• B)a subjective standard.
• C)commercial reasonableness.
• D)None of the above.

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Definitions:

Northwest Passage

A sea route connecting the northern Atlantic and Pacific Oceans through the Arctic Ocean, along the northern coast of North America.

British Empire

The British Empire was a global empire marked by overseas colonization, dominion, and influence, making it one of the largest and most powerful empires in history.

Trading Alliance

A formal agreement between two or more parties to exchange goods, services, or support, often aimed at mutual economic benefit.

French

The Romance language of France, also spoken in parts of Belgium, Switzerland, Canada, and several other countries, as well as an official language of many international institutions.