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 the:
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 to create a standardized set of rules for commercial transactions. One of the ways in which it did so was by providing a framework for determining the rights and responsibilities of parties to a contract based on the concept of title. Before the UCC, there was no uniform approach to determining title and this could lead to differences in interpretation between different jurisdictions.

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