Question: What is the function of the Uniform Commercial Code's ( UCC ' s ) gap - filling rule? It assures the offeree that goods will

What is the function of the Uniform Commercial Code's (UCC's) gap-filling rule?
It assures the offeree that goods will be held open for a reasonable time.
It permits certain open terms to be "read into" a contract.
It helps a merchant revoke its offer even after acceptance.
It protects the offeror from additional terms that may be added by the offeree
What is the function of the Uniform Commercial Code's (UCC's) gap-filling

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!

Q:

What is the Instant Coffee Complex From what country do many negotiators experience the Instance Coffee Complex Do you think this trait harms a negotiator helps or both Please know you dont have to...

Q:

Question 1 Bill downloaded an antivirus software from the Internet. Under the Uniform Commercial Code (UCC), the software is a: good. service. good-faith warranty. mixture of goods and services. 2...

Q:

41 What is the function of the gap-filling rule used under the UCC? It protects the offeror from additional terms that may be added by the offeree. It helps open terms be "read into" a contract It...

Q:

0.5 points QUESTION 4 An output contract is typically Illusory Unconscionable Voidable None of the above 0.5 points QUESTION 5 Which of the following statements is not correct? Generally, a state...

Q:

1. Do you agree or disagree with the decision in the Lambert case (p. 323, textbook). Explain by making EXPLICIT reference to any of the principles of Contract Law (say which one(s) you are using)...

Q:

is as follows: 1. Do you agree or disagree with the decision in the Lambert case (p. 323, textbook). Explain by making EXPLICIT reference to any of the principles of Contract Law (say which one(s)...

Q:

Provide 4 examples of how the U.C.C. will benefit Vendors and Vendees or Manufacturers and End Users, from the passage Mutual consent, also known as ratification and meeting of the minds, is...

Q:

Chapter 9 from Business Law and the Legal Environment was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested...

Q:

Administrative Law 5 A dministrative law governs and defines the powers of government agencies. A number of political and technological factors have led to an explosion in the growth of government...

Q:

Chapter 6 from The Legal and Ethical Environment of Business was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as...

Q:

1. Daniel Dimwit sees an advertisement for a toaster oven at Target for the price of $49.00. When he gets to Target they are all sold out. Sears has the same toaster oven for $60.00. Can Mr. Dimwit...

Q:

What is the molecular weight of verdigris? Include a referencecitation. Go to Web of Science and find a journal article using the searchterms "paint binders". Provide two sentences that describe how...

Q:

Jerrison Company operates a wholesale hardware business. The following balance sheet accounts and balances are available for Jerrison at December 31, 2011. Required: 1. Prepare a classified balance...

Q:

Determine roses increase in income tax liability as a result of three cells are assets are stock hell for invest ignore the effect of increasing AGI on deductions and Faiza amounts

Q:

Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 12%; if you buy it, you plan to hold it for 5 years. You (and the...