Which Statement Is True Regarding the Sources of Laws That

question 58

Multiple Choice

Which statement is true regarding the sources of laws that interpret sales contracts?

• A)Two sources of laws that interpret sales contracts exist: state common law and the Uniform Commercial Code.
• B)Two sources of laws that interpret sales contracts exist: the Uniform Commercial Code and state statutory law.
• C)Two sources of laws that interpret sales contracts exist: state common law and state statutory law.
• D)Three sources of laws that interpret sales contracts exist: state common law,the Uniform Commercial Code,and state statutory law.
• E)The Uniform Commercial code is the only source of law interpreting sales contracts.

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Definitions:

Forward Market

A marketplace for the exchange of financial instruments or commodities for delivery in the future at prices agreed upon today.

Spot Market

A public financial market in which financial instruments or commodities are traded for immediate delivery.

Communications Technology

The branch of technology that deals with the transmission of information through digital or analog means.

Working Capital Management

Working capital management involves managing the short-term assets and liabilities of a company to ensure it has sufficient liquidity to run its operations smoothly.