Magna Motors,Inc. ,sells the right to the possession and use of a motor vehi?cle under a lease.As defined in the UCC,Magna is
A)a bailor.
B)a dealer.
C)a lessor.
D)a seller.

Question

Quizplus · Accepted Answer

Magna Motors, Inc. is selling the right to possess and use a motor vehicle under a lease, which makes them a lessor according to the UCC (Uniform Commercial Code) definition. A bailor is someone who temporarily hands over possession of goods to someone else, a dealer is someone who sells goods, and a seller is someone who transfers ownership of goods for a price. As Magna Motors is leasing the vehicle, they are not transferring ownership but only giving the right to possess and use it. Hence, the best choice is C - lessor.