Dino and Elle Engage in a Transaction That Involves E-Documents

question 50

Multiple Choice

Dino and Elle engage in a transaction that involves e-documents. The E-SIGN Act applies if those documents include

• A) a divorce decree or a prenuptial agreement.
• B) a health-insurance termination.
• C) an agreement subject to Article 2 of the Uniform Commercial Code.
• D) an eviction or a foreclosure.

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Definitions:

Proceeds

The amount of money received from a transaction, especially after selling an asset or completing a deal.

Uniform Commercial Code

A codification of the laws governing commercial transactions in the United States, designed to make interstate commerce more efficient.

Financing Statement

A document filed by a secured party to give public notice of their interest in the property of a debtor, typically used in secured transactions.

Collateral

Assets pledged by a borrower to secure a loan or other credit, which can be seized by the lender if the borrower fails to pay.