Question: Under the Uniform Commercial Code ( UCC ) , which of the following statements accurately describes a provision regarding sales and leases? Group of answer

Under the Uniform Commercial Code (UCC), which of the following statements accurately describes a provision regarding sales and leases?
Group of answer choices
A lease under the UCC must always be in writing, regardless of the value of the goods.
In a sale of goods, the UCC requires that the contract must include a set price at the time the contract is formed.
The UCC permits the modification of a sales contract without additional consideration, provided the modification is made in good faith.
The UCC's statute of frauds requires that all sales contracts for goods valued at $1,000 or more must be in writing to be enforceable.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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

Students Have Also Explored These Related General Management Questions!