Question: How do UCC provisions differ from the common law regarding modification of contracts?

How do UCC provisions differ from the common law regarding modification of contracts?

Step by Step Solution

★★★★★

3.28 Rating (151 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Unlike the common law rule that contract modification must be supported by new consideration the ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1355-L-B-L-C-C(132).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!

Q:

How does statutory law come into existence? How does it differ from the common law? If statutory law conflicts with the common law, which law will govern?

Q:

What is the Uniform Commercial Code? To which kinds of contracts does the UCC apply? How do its requirements for a sale contract differ from the common law requirements?

Q:

A century ago, the common law regarding landlords and tenants held the tenant responsible for major repairs to residences, such as roof repairs. Over the years, the common law changed to put such...

Q:

1. Sales Contracts between Merchants and the Uniform Commercial Code a) For the purpose of UCC article 2, what is a sale? b)For the purpose of UCC article 2, who is a merchant? c) How does article 2A...

Q:

1. Sales Contracts between Merchants and the Uniform Commercial Code For the purpose of UCC article 2, what is a sale? For the purpose of UCC article 2, who is a merchant? How does article 2A...

Q:

1. Sales Contracts between Merchants and the Uniform Commercial Code a) For the purpose of UCC article 2, what is a sale? b) For the purpose of UCC article 2, who is a merchant? c) How do article 2A...

Q:

1. For the purpose of UCC article 2, what is a sale? 2. For the purpose of UCC article 2, who is a merchant? 3. How do article 2A provisions of the UCC differ from article 2 provisions? 4. How does...

Q:

How do UCC provisions differ from the common law regarding modifications of contracts?

Q:

Do you believe the UCC treats merchants more fairly or less fairly than traditional contract law? Give an example of how the UCC may differ from the common law of contracts to support your opinion....

Q:

Do you believe the UCC treats merchants more fairly or less fairly than traditional contract law? Give an example of how the UCC may differ from the common law of contracts to support your opinion.

Q:

FIU-PCB3063-Fall19-Prof. Granados-Cifuentes This document is for your individual exclusive use. Sharing it in any way, shape, or form is prohibited. Activity Worksheet GER Eukaryotes Modified from...

Q:

Suppose N1is a discrete random variable equally likely to take on any integer in the set {1, 2, 3}. Given that, N1 = n1, the random variable N2 is equally likely to take on any integer in the set {1,...

Q:

Which of the following is false about the domicile status of an individual: a . A legitimate child who is born outside the country of birth of its parents assumes the domicile of the father b . An...

Q:

How might the ecacy of mergers be measured?: ^ From the viewpoint of companies? ^ From the viewpoint of society?

Q:

Forums for arbitration and other methods of alternative dispute resolution (ADR) are available online. Should the reduced cost and other factors favoring online ADR be considered in determining the...

Q:

After Kira had had several drinks one night, she sold Charlotte a diamond necklace worth thousands of dollars for just $100.The next day, Kira offered the $100 to Charlotte and requested the return...

Q:

After Kira had had several drinks one night, she sold Charlotte a diamond necklace worth thousands of dollars for just $100.The next day, Kira offered the $100 to Charlotte and requested the return...

Q:

An objective of architecture design is to determine: Group of answer choices what parts of the application software will be assigned to what hardware how aesthetically pleasing the server system will...

Q:

On the right are the numbers of customers served by a restaurant on 40 consecutive days. (The numbers have been ranked lowest to highest.) Find the 15th percentile. 46 48 48 49 50 51 52 56 56 57 58...

Q:

What price do farmers get for their watermelon crops? In the third week of July, a random sample of43farming regions gave a sample mean of= $6.88per 100 pounds of watermelon. Assume that?is known to...