Asked by Lindsay Drake on Jun 07, 2024

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What bodies of law govern contracts in the United State?

A) Article 2 of the UCC
B) Common law related to contracts
C) The United Nations Declaration on Human Rights
D) Both A & B

Common Law

A legal system based on precedent and customs rather than written statutes.

UCC

A comprehensive set of laws governing commercial transactions in the United States, designed to harmonize the law of sales and other commercial dealings across the country.

United Nations Declaration

A formal statement or document adopted by the United Nations outlining principles, rights, or intentions in various global matters.

  • Ascertain the applicability and limits of the Uniform Commercial Code (UCC) and Common Law in contract regulation.
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Verified Answer

NC
Nicholas CrolweyJun 09, 2024
Final Answer :
D
Explanation :
Two bodies of law-Article 2 of the Uniform Commercial Code and the common law of contracts-govern contracts today in the United States.