Asked by Camila Cervantes on May 31, 2024
Verified
If a firm enters into a contract governed by the Uniform Commercial Code in Ohio,it would be operating under:
A) Federal common law.
B) Federal statutory law.
C) The Ohio Uniform Commercial Code.
D) Both the federal Uniform Commercial Code and the Ohio Uniform Commercial Code.
E) Either the federal Uniform Commercial Code or the Ohio Uniform Commercial Code,at the election of the seller and assuming the seller specifies choice of law in the contract.
Ohio Uniform Commercial Code
A collection of laws that govern commercial transactions in the state of Ohio, part of a larger uniform effort to harmonize the law of sales and other commercial transactions across the United States.
Federal Common Law
A body of law developed by the federal courts that applies nationwide, based on judicial decisions rather than statutes.
- Gain an understanding of how the Uniform Commercial Code governs contracts related to the sale of goods.
Verified Answer
AT
Angel ToussaintMay 31, 2024
Final Answer :
C
Explanation :
The Uniform Commercial Code (UCC)is law in each state that has adopted it completely or partially as part of its state code.Thus,for example,if a firm enters into a contract governed by the Uniform Commercial Code in Ohio,it would be operating under the Ohio (state)Uniform Commercial Code.
Learning Objectives
- Gain an understanding of how the Uniform Commercial Code governs contracts related to the sale of goods.
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