Under the UCC, When Does a Person Have Notice of a Fact

question 70

Multiple Choice

Under the UCC, when does a person have notice of a fact?

• A) When the person has actual notice of the fact.
• B) When the facts and circumstances known to the person at the time in question give the person reason to know that the facts exist.
• C) When the person receives notice or notification of the facts.
• D) When the person has actual notice of the fact, when the facts and circumstances known to the person at the time in question give the person reason to know that the facts exist, and also when the person receives notice or notification of the facts.
• E) When the person has actual knowledge of the fact, or the facts and circumstances known to the person at the time in question give the person reason to know that the fact exists, but not that the person receives notice or notification of the fact.

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Definitions:

Value Systems

The set of beliefs and ethical principles that guide the behaviors, decisions, and actions of individuals or organizations.

Motivated

The state of being driven or inspired to act towards achieving a goal.

Emotional Intelligence

The ability to understand, use, and manage one's own emotions positively to relieve stress, communicate effectively, empathize with others, and overcome challenges.