Which of the Following Is the Reason the Uniform Commercial

question 45

Multiple Choice

Which of the following is the reason the Uniform Commercial Code was drafted?

• A) Different states had different laws governing contracts which did not result in a smooth flow of interstate commerce.
• B) Some states had no law governing contracts.
• C) Federal law governing contracts was difficult to apply.
• D) The Uniform State Act on laws was not working.
• E) The Restatement of the Law Second, Contracts was not being evenly and fairly applied.

---

Definitions:

Economic Analysis

A methodical strategy for deciding the best way to allocate limited resources, which includes evaluating multiple options to reach a particular goal within established assumptions and limitations.

Marginal Changes

Marginal changes describe small adjustments to a variable's quantity or level, analyzing the effects of these adjustments on an overall system.

Status Quo

The existing state or condition of affairs, often used in the context of maintaining current circumstances without change.

Entrepreneurship

The act of creating, organizing, and running a new business venture to take advantage of market opportunities, often involving risk and innovation.