231 CH 11 - UCC ARTICLE 2-SALES Chapter 11 SCOPE OF ARTICLE...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
UCC ARTICLE 2-SALES Chapter 11
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
SCOPE OF ARTICLE 2 Sale of Goods Sale: Passing of Title from Seller to Buyer for a Price Goods: Tangible, Movable Items of Personal Property Not Real Estate Not Stocks, Bonds, Patents, Copyrights
Background image of page 2
MERCHANT Definition of Merchant Person Acting in Mercantile Capacity and Possessing Expertise Specifically Related to the Goods Sold
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
OFFER Need Not Be As Definite As under Common Law Open Terms Are Allowed As Long As Parties Can Ascertain Essential Elements Open Price Terms: Court Will Determine ”Reasonable Price at Time of Delivery” Open Place of Delivery: Seller’s Place of Business Open Time of Delivery: “Reasonable Time” Open Quantity Terms: No Contract
Background image of page 4
MERCHANT’S FIRM OFFER RULE Elements of Rule Merchant Is Offeror Merchant Gives Assurance In Signed Writing That Offer Will Remain Open Offer Is Irrevocable for Stated Period If No Period Stated, Reasonable Period (Maximum of Three Months)
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
ACCEPTANCE UNDER UCC Any Reasonable Manner Any Reasonable Means
Background image of page 6
CONSIDERATION UNDER UCC Required under UCC Not Required for Contract Modifications
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 13

231 CH 11 - UCC ARTICLE 2-SALES Chapter 11 SCOPE OF ARTICLE...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online