Asked by DELINA FILLI on May 07, 2024
Verified
The UCC has different rules for transactions involving merchants and transactions involving nonmerchants.
Merchants
Individuals or enterprises engaged in the wholesale or retail sale of goods or services.
Nonmerchants
Nonmerchants refer to individuals or entities that do not regularly engage in commercial transactions or business practices related to the sale of goods.
- Distinguish between transactions involving merchants and nonmerchants under the UCC.
Verified Answer
TS
Theresa SyrettMay 12, 2024
Final Answer :
True
Explanation :
The Uniform Commercial Code (UCC) distinguishes between merchants and nonmerchants, applying different rules and standards to transactions based on the parties' status, particularly in areas like warranty and notice requirements.
Learning Objectives
- Distinguish between transactions involving merchants and nonmerchants under the UCC.
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