A standard determined in terms of the business judgment of reasonable persons familiar with the practices customary in the type of transaction involved and in terms of the facts and circumstances of the case is:
A) good faith.
B) a subjective standard.
C) commercial reasonableness.
D) None of these.

Question

Quizplus · Accepted Answer

Commercial reasonableness refers to a standard determined by what is reasonable to expect in a business context, taking into account the practices customary in the type of transaction involved and the specific facts and circumstances. This standard is used to evaluate the actions and decisions of parties in a commercial setting.

A Standard Determined in Terms of the Business Judgment of Reasonable