Which of the Following Is True Under the UCC Regarding

question 54

Multiple Choice

Which of the following is true under the UCC regarding liability of a principal if the agent enters into a contract that is a negotiable instrument?

• A) The principal is liable to the same extent as if no negotiable instrument were involved because the negotiable instrument has no effect on the principal's liability.
• B) The principal cannot be held liable unless the principal's name is on the instrument.
• C) The principal cannot be held liable unless the agent's signature indicates that it was made in a representative capacity.
• D) The principal cannot be held liable unless the principal's name is on the instrument or the agent's signature indicates that it was made in a representative capacity.
• E) The principal cannot be held liable unless the principal's name is on the instrument or the agent's signature indicates that it was made in a representative capacity, or the agent has been ruled insolvent.

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Definitions:

ANOVA Table

A structured presentation of variance analysis that includes source, degrees of freedom, sum of squares, mean square, and F value.

Independent Variables

Variables in an experiment or statistical model that are manipulated or categorized to examine their effect on the dependent variables without being influenced by other variables in the study.

Factors

Variables that are manipulated or controlled in an experiment to determine their effect on an outcome.

Two Independent

Refers to having two variables in an experiment that are manipulated or changed independently of each other.