Under the Uniform Commercial Code (UCC), modifications to a contract are binding without consideration as long as they are voluntary.

True

False

In a lease of goods contract, both lessor and lessee have the same rights and remedies as seller and buyer in a sale of goods contract.

True

False

Sellers cannot limit breach of warranty to repair or replace a good.

True

False

In a bailment relationship, the bailor has no obligation to disclose any known defects in the bailed property to the bailee.

True

False

The finder of lost property acquires possession and title of the property.

True

False