Which of the Following Is True Relating to a "Firm

question 57

Multiple Choice

Which of the following is true relating to a "firm offer" under the UCC?

• A)It can be made only by a merchant.
• B)It must be in writing and signed by the merchant.
• C)It may provide that the offer remain open for any period of time up to 4 months.
• D)A,B,and C.
• E)A and B only.

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Definitions:

Joint Checking Account

A bank account shared by two or more individuals, typically allowing all holders equal access to funds.

Overdraft

A check written on a checking account in which there are insufficient funds to cover the amount of the check.

Joint-Account Owner

An individual who shares ownership and control over a bank account with one or more persons.

Contractual Rights

Legal entitlements granted to individuals or entities based on the terms of a contract.