Universal Commercial Code

Universal Commercial Code - Questions 1. To what...

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Questions 1. To what transactions does UCC Article 2 apply? UCC Section 2-102: Unless the context otherwise requires, this Article applies to transactions in goods; it does not apply to any transaction which although in the form of an unconditional contract to sell or present sale is intended to operate only as a security transaction nor does this Article impair or repeal any statute regulating sales to consumers, farmers or other specified classes of buyers. 2. How are "goods" defined in UCC Article 2? UCC Section 2-103: "Goods" means all things that are movable at the time of identification to a contract for sale. The term includes future goods, specially manufactured goods, the unborn young of animals, growing crops, and other identified things attached to realty as described in Section 2-107. The term does not include information, the money in which the price is to be paid, investment securities under Article 8, the subject matter of foreign exchange transactions, or choices in action. 3. How is a "sale" defined in UCC Article 2?
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This note was uploaded on 12/15/2011 for the course BUSINESS L 101 taught by Professor Smith during the Spring '11 term at American.

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Universal Commercial Code - Questions 1. To what...

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