What are the UCC rules that relate to written contracts?
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What are the UCC rules that relate to written contracts?
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The Uniform Commercial Code UCC is a set of laws that govern various types of commercial transactions within the United States These laws have been fully or partially adopted by almost all states and offer a framework to facilitate commerce Several UCC articles relate to written contracts these include 1 Article 2 Sales This article governs the sale of goods It stipulates that a contract for the sale of goods over 500 must be in writing and signed by the party to be charged This is known as the Statute of Frauds provision UCC Section 2201 UCC also provides rules for offer and acceptance modifications terms deliveries and warranties 2 Article 3 Negotiable Instruments This relates to contracts for payment of money such as cheques or promissory notes 3 Article 9 Secured Transactions This governs any transaction ...View the full answer
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Related Book For
Business Law With UCC Applications
ISBN: 9780073524955
13th Edition
Authors: Gordon Brown, Paul Sukys
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