If an Instrument Is Nonnegotiable, the _____

question 44

Multiple Choice

If an instrument is nonnegotiable, the _____.

• A) Uniform Commercial Code controls the rights, and the general rules of property law control liabilities of the parties involved
• B) general rules of contract law control the rights and liabilities of the parties involved
• C) Uniform Commercial Code controls the rights, and the general rules of comparative law control the liabilities of the parties involved
• D) general rules of tort law control the rights and liabilities of the parties involved

---

Definitions:

Price Change

An alteration in the cost of goods or services, which can go up or down, depending on various factors.

Diamond/Water Paradox

An observation in economics illustrating how water, which is essential to life, is cheap, while diamonds, which do not sustain life, are expensive.

Bundle of Goods

A combination of different goods and services that are considered together, often in the context of consumer choice, preferences, and budget constraints.

Total Price

The complete cost of purchasing a product, including all taxes and fees.