Under Revised Article 3 of the Uniform Commercial Code Rules

question 15

Multiple Choice

Under Revised Article 3 of the Uniform Commercial Code rules for beneficiaries, in the event of a breach of transfer warranty, _____.

• A) the damages recoverable will be less than the amount of the instrument
• B) the damages recoverable may not be more than the amount of the instrument plus expenses and loss of interest incurred as a result of the breach
• C) a beneficiary of the transfer warranties who took the instrument in good faith may not recover from the warrantor an amount equal to the loss suffered as a result of the breach
• D) no damages may be recovered

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Definitions:

Opportunity Cost

The value of the best alternative forgone when a decision is made over others.

Hybrid Cars

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OLED Televisions

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