Asked by alyssa salles on Jun 26, 2024
Verified
Brooke is an art collector and hires a broker to buy and sell artworks on her behalf. Under the UCC, in those transactions, Brooke has the status of
A) a consumer.
B) an agent or other intermediary.
C) a merchant.
D) an employer and manager.
Art Collector
An individual or entity that accumulates artwork, often for personal enjoyment, investment, or cultural preservation.
Transactions
The action of conducting business or an exchange between two or more parties that involves the transfer of goods, services, money, or information.
Merchant
An individual or business engaged in the wholesale or retail sale of goods or commodities.
- Gain an understanding of the key principles and practical applications of the Uniform Commercial Code (UCC) for transactions involving sales and leases of goods.
Verified Answer
ZT
Zarjina Tarana KhalilJul 01, 2024
Final Answer :
C
Explanation :
Under the UCC (Uniform Commercial Code), Brooke would have the status of a merchant because she is dealing in goods of the kind (in this case, artworks) and by hiring a broker, she is engaging in buying and selling artworks as part of her business. The UCC defines a merchant as someone who deals in goods of the kind or otherwise holds themselves out as having knowledge or skill peculiar to the practices or goods involved in the transaction.
Learning Objectives
- Gain an understanding of the key principles and practical applications of the Uniform Commercial Code (UCC) for transactions involving sales and leases of goods.