under the Uniform Commercial code, article 2 covers the sale and transfer of title of investment...

under the Uniform Commercial code, article 2 covers the sale and transfer of title of investment securites, insurance policies, commercial paper or real estate.

true or false?

Expert Solution

Answer: The Uniform Commercial code (UCC) of 1952 is considered to be a set of comprehensive laws that takes care of sales and various commercial dealings and transactions of United States. Although it is not a federal law but a uniform law for solving the issues of complex interstate business transactions as there were many laws pertaining to every state. It has 9 special articles.
Where Article 1 consists of general provisions and prescription for application of UCC, Article 2 deals with the sale of goods including real estate and service contract and not investment securities, insurance policies and commercial paper.

Rahul Sunny answered 2 years ago

What does the Uniform Commercial Code advocate when the ownership of the goods is manifested by a document of title?

What does the Uniform Commercial Code advocate when the ownership of the goods is manifested by a document of title?Any possible loss falls on seller and remains there until seller cures the breach or until buyer accepts despite the breach.The buyer receives a negotiable document of title covering the goods.The title passes at the time when, and the place where the documents are delivered to the buyer.The title passes at the time and place of contracting.The title passes to the...

An insurance contract is under the: a. Uniform commercial Code b. Civil Code c. Common Law...

An insurance contract is under the: a. Uniform commercial Code b. Civil Code c. Common Law d. Special type of contract

Under the Uniform Commercial Code (UCC), risk of loss passes to the buyer (A) when the...

Under the Uniform Commercial Code (UCC), risk of loss passes to the buyer (A) when the goods are delivered to the carrier if the terms are FOB destination (B) when the goods are placed on the seller’s loading dock if the terms are FOB destination (C) when the goods are placed on the seller’s loading dock if the terms are FOB shipping point (D) when the goods are delivered to the carrier if the terms are FOB shipping point

21. Under the Uniform Commercial Code (UCC), an express warranty may be created by a Seller...

21. Under the Uniform Commercial Code (UCC), an express warranty may be created by a Seller showing a sample of a particular item to a Buyer, and the Buyer relying on that sample to make a purchase decision. T/F 22. Which one of the following warranties only applies if the Seller is a Merchant? a. Express warranties b. Implied warranty of fitness for a particular purpose c. Implied warranty of merchantability d. Implied warranty of good title e. None of...

The Uniformed Commercial Code (UCC) Article 2 applies to a. some sales of land but no...

The Uniformed Commercial Code (UCC) Article 2 applies to a. some sales of land but no sales of services.. b. the sale of goods and some sales of services but no sales of land. c. only for the sales of goods. d. no sales for land or services but for some goods and real estate. 1 points QUESTION 2 When a contract fails but one person reasonably relied on another person's promise to their detriment, this is called a. unjust...

The Uniform Commercial Code does not allow a seller to resell or dispose of the goods...

The Uniform Commercial Code does not allow a seller to resell or dispose of the goods when the buyer is in breach and the goods have not yet been delivered; instead, the seller must seek an order of specific performance against the breaching buyer. True or False

According to the Uniform Commercial Code 3-104, what is a negotiable instrument?

What does the uniform commercial code (UCC) state regarding price and warranty?

17(TCO H) What does the uniform commercial code (UCC) state regarding price and warranty? What if a price is not specified in an agreement? What if a price is specified in an agreement? Does the UCC modify the price? What about a warranty? What rights does the buyer have for a guarantee under the UCC? What protection is granted to the seller?18You are the project manager on a social media project. The buyer wants to get an idea of how...

The source of law governing foreclosures is the a. Uniform Commercial Code b. State of residence...

The source of law governing foreclosures is the a. Uniform Commercial Code b. State of residence of the seller of the property c. state where the foreclosure takes place d. internal revenue code

Explain the applicability of the Uniform Commercial Code (UCC) to bank transactions Assignment Overview: In this...

Explain the applicability of the Uniform Commercial Code (UCC) to bank transactions Assignment Overview: In this writing assignment, you will explain a bank's liability when it deposits a customer's check in the wrong account. Deliverables: A 150-word (2-3 paragraph) paper Step 1: Write a short statement informing a bank of its liability when it deposits a customer's check in the wrong account. Three weeks ago, you deposited a $1,000 payroll check at your bank after having signed your name to...

Question