A software development firm based in Florida and conducting business in Texas is unsure about the differences in state laws regarding business transactions. What body of laws standardizes interstate business regulations?
A) Uniform Commercial Code
B) Universal Business Regulations
C) National Commercial Rules
D) Unified Commercial Regulations

Question

Quizplus · Accepted Answer

The Uniform Commercial Code (UCC) is a set of standardized business laws that govern commercial transactions. Its purpose is to harmonize and streamline the state laws related to commercial transactions, including sales contracts, leases, negotiable instruments, and secured transactions. The UCC has been adopted in some form by all 50 states, the District of Columbia, and the U.S. Virgin Islands, providing uniformity and clarity for businesses conducting interstate transactions.

A Software Development Firm Based in Florida and Conducting Business