Which of the following is true of the UCC (Uniform Commercial Code)?
A) The UCC aims to create a uniform system of accounting among the 50 states.
B) The common law of contracts normally takes precedence over the provisions of the UCC.
C) Article 2 of the UCC prescribes a set of uniform rules for the creation and enforcement of rules of taxation.
D) Article 2A of the UCC prescribes a set of uniform rules for the creation and enforcement of contracts for the lease of goods.

Question

Quizplus · Accepted Answer

Article 2A of the UCC specifically deals with the creation and enforcement of contracts for the lease of goods. Option A is incorrect as the UCC does not deal with accounting practices. Option B is partially correct, as common law does play a role in contract law, but the UCC is also an important source of law in this area. Option C is incorrect as the UCC does not deal with taxation rules.

Which of the Following Is True of the UCC (Uniform