Asked by Courtney Morris on Jul 14, 2024
Verified
Mara and Nim enter into a contract for a sale of orchids that requires payment within thirty days of delivery. Under the UCC, the payment term in the contract
A) removes the entire transaction from the UCC.
B) is superseded by the UCC rule that payment is due on delivery.
C) is fully enforceable.
D) is not enforceable because it does not specify a definite date.
UCC Rule
Refers to regulations established under the Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.
Payment Term
A condition that outlines the agreement between a buyer and a seller regarding the amount and timing of payments for goods or services.
Enforceable
A term describing a legal agreement or regulation that can be upheld or compelled by law.
- Master the basic tenets and utilizations of the Uniform Commercial Code (UCC) with respect to the sales and leasing of goods.
Verified Answer
NG
Nasri GeorgeJul 18, 2024
Final Answer :
C
Explanation :
The payment term in the contract is fully enforceable under the UCC. The UCC allows for flexibility in payment terms, including payment within a specified period after delivery, as long as the terms are clear and agreed upon by both parties.
Learning Objectives
- Master the basic tenets and utilizations of the Uniform Commercial Code (UCC) with respect to the sales and leasing of goods.