1.) Article II of the UCC does NOT apply to transactions between consumers and requires a merchant..

1.) Article II of the UCC does NOT apply to transactions between consumers and requires a merchant to be one of the parties to the sale. T or F

Explanation:

2.) The fundamental laws of sales contracts are found primarily in:

A. judicial decisions of the federal courts

B. Executive decision made by the state governors.

C. Statutes passed by the state legislature.

D. All of the above (a-c) are equally important in determining the fundamental laws involving sales contracts.

Explanation:

3.) A verbal agreement was entered into by agents of Grey Loon, Inc. and Chin Wa Assocaiates. As is customary each agent sent the other a written standard form document.

Grey Loon’s purchase order stated the following:

“Dispute Resolution: All unresolved disputes leading to legal conflict shall be resolved in the courts of New Jersey under New Jersey Law.”

Chin Wa’s purchase acknowledgement read as follows”

“Arbitration: In the event of an inability of the parties to resolve a dispute(s) arising under said contract the parties shall be compelled to arbitrate such under the supervision of a mutually chosen arbitrator under the rules of the American Arbitration Association.”

As the terms in the two documents were contradictory no contract existed between the parties. T or F

Explanation:

 

Looking for a Similar Assignment? Let us take care of your accounting classwork while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Active Discount Code FREE15