Which of the Following Is a Valid Uniform Commercial Code

question 18

Multiple Choice

Which of the following is a valid Uniform Commercial Code (UCC) rule regarding checks marked "paid-in-full"?

• A)If a business inadvertently cashes a check marked "paid-in-full," the business has 30 days from the date it cashed the check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• B)If a business inadvertently cashes a check marked "paid-in-full," the business has 60 days from the date it cashed the check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• C)If a business inadvertently cashes a check marked "paid-in-full," the business has 90 days from the date it cashed the check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• D)If a business inadvertently cashes a check marked "paid-in-full," the business has 120 days from the date it cashed the check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• E)If a business inadvertently cashes a check marked "paid-in-full," the business has no recourse,and the debt is legally satisfied and discharged.

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