Business Law

QUESTION 39

Electronic fund transfers between businesses are typically in the form of wire transfers, which are governed by UCC Article 4A.

True

False

2 points

QUESTION 40

Which of the following is treated under the Uniform Commercial Code exactly as it is under common law?

		Agreement: acceptance
		Consideration
		Capacity
		Agreement: offers

2 points

QUESTION 41

Paper that does not specify the payee is called:

		Bearer paper
		A check
		Order paper
		Draft paper

2 points

QUESTION 42

Granny wants her sister Bernice to have a comfortable home, but wants it to eventually go to her granddaughter, as Bernice has some horrible kids. With regard to Bernice, Granny can best accomplish this by granting:

		A fee simple defeasible
		A leasehold
		A reversion
		A life estate

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