Under the Uniform Computer Information Transactions Act,which of the Following

question 73

Multiple Choice

Under the Uniform Computer Information Transactions Act,which of the following is true?

• A)Where both parties to the transaction are merchants,the court will not examine the reasonableness of any liquidated damages clause.
• B)Specific performance can be obtained by the licensee if the information is unique or the parties agreed to it as a remedy in the contract.
• C)Liquidated damages clauses are not permitted under the Act.
• D)Following a breach by the licensor,the licensee can continue to use the information without incurring an obligation to pay.

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Definitions:

Internal Control

Processes and procedures implemented by a company to safeguard its assets, enhance the reliability of its accounting records, and ensure compliance with laws and regulations.

Banking Activities

Operations carried out by banks, including deposits, loans, investments, and currency exchange.

Petty Cash Fund

A small amount of cash on hand that is used for covering minor expenses in a business.

Office Supplies

Items such as pens, paper, and other materials used in an office setting for daily operations.