The ________ is a model act passed in 1949 that includes comprehensive laws that cover most aspects of commercial transactions.
A)Gramm-Leach Bliley Act
B)Sarbanes-Oxley Act
C)Uniform Sales Act
D)Uniform Commercial Code

Question

Quizplus · Accepted Answer

The Uniform Commercial Code is a model act that was passed in 1949 and covers most aspects of commercial transactions, including sales, leases, negotiable instruments, secured transactions, and more. The Gramm-Leach Bliley Act and Sarbanes-Oxley Act are both federal laws that focus on specific aspects of financial regulation, while the Uniform Sales Act is an outdated model law that has been largely replaced by the UCC.

The ________ Is a Model Act Passed in 1949 That