The concept of title was crucial in making determinations of the rights and responsibilities of the parties to a contract,prior to the adoption of:
A) Federal Trade Law.
B) Uniform Commercial Code.
C) United Trade Commission.
D) Trivial Trade Laws.

Question

Quizplus · Accepted Answer

The Uniform Commercial Code (UCC) was adopted in the United States in the 1950s and provides a uniform set of rules governing commercial transactions. Prior to its adoption, there was no standardized set of laws governing commercial transactions, and the concept of title was crucial in determining the parties' rights and responsibilities under a contract. The UCC provides much-needed clarity and uniformity in the area of commercial law. The other options, Federal Trade Law, United Trade Commission, and Trivial Trade Laws, are not relevant to the concept of title in commercial transactions.

The Concept of Title Was Crucial in Making Determinations of the Rights