Which of the following is not true about the UCC?
A) The UCC is a federal statute passed by Congress in 1953 that covers most aspects of
commercial transactions.
B) The UCC is continually being revised to reflect changes in modern commercial practices
and technology.
C) The UCC is divided into articles, with each article establishing uniform rules for a
particular facet of commerce in the United States.
D) The UCC is a model act that contains uniform rules that govern commercial transactions.
A
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Indicate whether the statement is true or false
A person’s race, ethnicity, or country of origin is referred to as ______ background.
a. cultural b. ethnic c. religious d. racial
Fraud investigations should only occur when fraud predication exists
Indicate whether the statement is true or false
Gregory borrows $200,000 from Mountain Bank to purchase a plot of land, and Mountain Bank perfects its security interest. Gregory defaults on the loan, and owes an outstanding balance of $80,000
His house has gone down in value to $160,000 at the time of default, but he has other personal assets to satisfy the debt. Which of the following is a course of action for Mountain Bank to recover the debt after foreclosing on the loan? A) proceed to judgment against Gregory B) file a financing statement C) release a termination statement D) proceed to repossess the collateral