When a court must determine a price for a contract under the UCC, they look to:
a. fair market value
b. usual business practices c. a reasonable price
d. all of the other specific choices may be used
e. none of the other choices; such contract is invalid
d
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Your bank account pays a 6% nominal rate of interest. The interest is compounded quarterly. Which of the following statements is CORRECT?
A. The periodic rate of interest is 1.5% and the effective rate of interest is 3%. B. The periodic rate of interest is 6% and the effective rate of interest is greater than 6%. C. The periodic rate of interest is 1.5% and the effective rate of interest is greater than 6%. D. The periodic rate of interest is 3% and the effective rate of interest is 6%. E. The periodic rate of interest is 6% and the effective rate of interest is also 6%.
Damages in a negligence suit are found to be $100,000 . If the jury finds the plaintiff was 40 percent responsible, the defendant would pay for 60 percent of the damages ($60,000) under the rule of comparative negligence
a. True b. False Indicate whether the statement is true or false