Asked by
Aditi Agarwal
on Nov 29, 2024
Verified
A contract to sell life insurance is covered by Article 2 of the Uniform Commercial Code.
Life Insurance
A contract in which an insurer agrees to pay a designated beneficiary a sum of money upon the insured individual's death.
Uniform Commercial Code
A comprehensive set of laws regulating commercial transactions and dealings across the United States, aiming for uniformity among states.
Article 2
Refers to a particular segment of a legal code or document, which could vary significantly by context, often involved in discussing commercial transactions in the U.S. Uniform Commercial Code.
- Understand the application of the Uniform Commercial Code (UCC) to contracts for the sale of goods.
Verified Answer
AP
Learning Objectives
- Understand the application of the Uniform Commercial Code (UCC) to contracts for the sale of goods.