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BLAW FINAL - because his material costs are more than...

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Final Exam Review A. Sale of Goods 1) UCC Article 2 - Items covered on sheet. 2) UCC Common Law Changes a) Firm Offer Rule b) Who is a merchant? – Deals in the goods of the kind involved in the sales contract. Ex) A sells B his car and sells car for a living A is a merchant with respect to the sale of cars and the rules that apply to merchants apply. c) Pre-existing duty rule – Does not apply if a modification to a contract is done in good faith ex) after the contract is entered into the seller requests more money
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Unformatted text preview: because his material costs are more than expected. d) Additional terms between merchants and non merchants 3) The Statute of Frauds a) Goods $500 or more b) Specially Manufactured goods exception – The statute of frauds cannot be raised by a buyer if the goods were specially made for the buyer, not suitable to be sold to another and the seller made a substantial beginning towards manufacturing the goods or the procurement of materials....
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