Developed by the National Conference of Commissioners on Uniform State Laws, the _____ is the most important uniform act for businesses.
A) Code of Acceptable Business Practices
B) Statute of Frauds
C) Uniform Business Standards Act
D) Uniform Commercial Code

Question

Quizplus · Accepted Answer

The Uniform Commercial Code (UCC) is the most important uniform act for businesses. It provides a comprehensive set of laws governing commercial transactions, including the sale of goods, secured transactions, negotiable instruments, and more. The UCC has been adopted in whole or in part by all states, making it a consistent set of rules for businesses operating in multiple states.