UCC Article 2 intro to sales and lease contracts

UCC Article 2 intro to sales and lease contracts - UCC...

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UCC Article 2- sale of goods Uniform commercial code has 9 articles How business is done Federal law does not cover contract law Contract law is reserved solely to the states each state has the same law for contract law Louisiana is the only state who doesn’t have UCC because of its French character UCC is a default contract; it covers the sale of goods, tangible property; everything else is common law contract UCC article deals with goods in interstate commerce UCC is more relaxed then common law Requirements for writing aren’t as strict Only deals with GOODs Article 2A covers leases (automobiles, trucks; things that move) Mixed goods and services contracts Predominant purpose tests Figure out what is the contract mostly about? Goods or services? In any contract with a sale or purchase of goods its going to be between Non-merchants with non-merchants Non-merchants with merchants Merchants with merchants (has knowledge of what he’s selling, or is an agent for a merchant) Merchants are held to a higher standard Sale- consists of the passing of title form the seller to the buyer for a price Goods- all tangible things which are movable at the time of identification to the contract for sale Mixed sale- a contract that combines a good with a service
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UCC Article 2 intro to sales and lease contracts - UCC...

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