Under the UCC Which of the Following Statements Is Sufficient

question 57

Multiple Choice

Under the UCC which of the following statements is sufficient to make a promise or order to pay conditional?

• A) "I promise to pay from the corporate account."
• B) "I promise to pay as per the contract for the sale of goods between the parties."
• C) "I promise to pay because I owe the money."
• D) "I promise to pay if the following occurs."
• E) "Borrower may pay without penalty all or a portion of the amount owed earlier than it is due."

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Definitions:

Prices

The financial requirement for buying a good, service, or asset.

Marginal Revenue

The financial gain realized from the sale of one more unit of a good or service.

Cheese

A food item made from milk by thickening the milk protein casein, available in various flavors, textures, and shapes.

Marginal Revenue

The additional income that is generated by increasing sales of a product or service by one unit.