According to the UCC,which of the following is true regarding when a person has notice of a fact?
A) Under the UCC a person has notice of a fact only when the person has actual knowledge of the fact.
B) Under the UCC a person has notice of a fact under the following two circumstances: (1) when the person has actual knowledge of the fact, and (2) when the person receives notice or notification of the facts.
C) Under the UCC a person has notice of a fact under the following three circumstances: (1) when the person has actual knowledge of the fact, (2) when the person receives notice or notification of the facts, and (3) when the person has reason to know the fact exists.
D) Under the UCC a person has notice of a fact only when the person has signed a verification to the effect that notice was received.
E) Under the UCC a person has notice of a fact only when the person receives written notification either through regular mail or electronic means.

Question

Quizplus · Accepted Answer

According to the UCC, a person has notice of a fact who either:
1. Has actual knowledge of the fact.
2. Receives notice or notification of it.
3. Has reason to know the fact exists. [UCC 1-201(25)]

According to the UCC,which of the Following Is True Regarding