Asked by Keondra Jones on May 04, 2024
Verified
Which of the following determines the obligations of sellers and buyers?
A) Terms the parties outline in agreements
B) Custom
C) Rules outlined by the Uniform Commercial Code
D) Terms the parties outline in agreements,custom,and rules outlined by the Uniform Commercial Code
E) Terms the parties outline in agreements and custom,but not rules outlined by the Uniform Commercial Code
Uniform Commercial Code
An extensive collection of regulations designed to oversee business dealings across the United States, aiming to standardize the legal framework throughout all 50 states.
Obligations
Duties or responsibilities imposed by law, contract, or moral duty, requiring individuals or organizations to act in a certain manner.
Sellers and Buyers
Parties engaged in the exchange of goods or services for payment in a marketplace.
- Master the significance and procedures of the Uniform Commercial Code (UCC) in relation to goods sales, including the legal duties and rights of buyers and sellers.
- Analyze the role of custom, practice, and previous dealings in interpreting and enforcing sales contracts under the UCC.
Verified Answer
Learning Objectives
- Master the significance and procedures of the Uniform Commercial Code (UCC) in relation to goods sales, including the legal duties and rights of buyers and sellers.
- Analyze the role of custom, practice, and previous dealings in interpreting and enforcing sales contracts under the UCC.
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