Under the UCC,courts Allow Parties to Explain or Supplement a Written

question 45

Multiple Choice

Under the UCC,courts allow parties to explain or supplement a written contract with which of the following?

• A) Additional terms that are consistent with the terms in the agreement, evidence that helps the court interpret the agreement, and any evidence as to price.
• B) Evidence that helps the court interpret the agreement, but not additional terms that are consistent with the terms in the agreement or any evidence as to price.
• C) Any evidence as to price, but not additional terms that are consistent with the terms in the agreement or evidence that helps the court interpret the agreement.
• D) Additional terms that are consistent with the terms in the agreement, but not evidence that helps the court interpret the agreement or any evidence as to price.
• E) Additional terms that are consistent with the terms in the agreement and evidence that helps the court interpret the agreement, but not any evidence as to price.

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Definitions:

OTC Options

Over-the-counter options are trades made directly between two parties, not on a formal exchange, tailored to the parties' requirements.

Counterparty Credit Risk

The risk that the other party in a financial transaction might default on their contractual obligations.

Bull Money Spread

An options strategy used by investors to profit from the moderate rise in the price of a stock.

Puts

Options contracts giving the holder the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time.