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Xenon Corporation Had a Contract to Purchase a Parcel of Land

Question 72

Multiple Choice

Xenon Corporation had a contract to purchase a parcel of land for its new production facilities. Xenon made a $50,000 down payment on the contract. Xenon just learned that the property has restrictions on its use for industrial production. Where could Xenon check to determine what the law is on the use of the property?


A) Local ordinances
B) Federal law
C) The state constitution
D) The Uniform Commercial Code

Correct Answer:

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