Asked by Edgar Quinones on May 07, 2024
Verified
The UCC defines course of dealing as ________
A) the trading norm of an industry.
B) the transactions of how industry handles the course of dealing.
C) the course of performance of an industry.
D) previous commercial transactions between the same parties.
E) the course of dealings between industries within a specific region.
Course of Dealing
The pattern of previous conduct between parties that establishes a common basis for understanding their future transactions and behaviors.
- Elucidate the implications of trade usage, course of dealing, and course of performance, and their importance as per the Uniform Commercial Code.
Verified Answer
NA
Nicole AntarMay 08, 2024
Final Answer :
D
Explanation :
The UCC (Uniform Commercial Code) defines "course of dealing" as the sequence of previous commercial transactions between the same parties that establishes a common basis for understanding how they are to perform under a particular agreement. This concept helps in interpreting the terms of a contract and the parties' intentions.
Learning Objectives
- Elucidate the implications of trade usage, course of dealing, and course of performance, and their importance as per the Uniform Commercial Code.