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Valentin [98]
3 years ago
11

Under the UCC a sales or lease contract will not fail for indefiniteness even if there are open terms if the parties intended to

contract and if there is a reasonably certain basis for the court to grant an appropriate remedy.True / False.
Business
2 answers:
Alex17521 [72]3 years ago
5 0

Answer:

True

Explanation:

In contract law and under UCC, indefiniteness means that the terms of a contract are too vague or too indefinite for the contract to be enforceable, e.g. a contract that sells a parcel of land but doesn't include the exact location. If any party breaches a contract that fails for indefiniteness, usually the other party cannot claim a remedy for the breaching. In the previous example, if someone received money in advance they cannot keep it, it must be returned at the buyer's request.

But even if contracts fail for indefiniteness, but the parties can still reasonably perform, then the contract might be considered valid under certain circumstances. E.g. a contract between merchants that doesn't include a sales price, just a request for merchandise. If both merchants had already been engaged in previous transactions, UCC rules set the price as the reasonable price at the time of delivery, or the price used in a previous transaction.

In our first example, if the seller can provide proof of location of the parcel of land and it satisfies the contract's terms, then that sales contract is enforceable.  

Gelneren [198K]3 years ago
4 0

Answer:

The correct answer is True.

Explanation:

At the end of a common agreement, there is no consequence for any of the parties, since it is their will to end the contract that they previously agreed to sign

Termination of the lease by the lessor.

The lessor may unilaterally terminate the lease under the conditions established by law, paying any compensation that may arise.

The law expressly establishes when and why the lease can be terminated by the lessor, and only in those cases can the contract be terminated without there being room for the payment of a penal clause or non-compliance, if any, since in those cases the law in particular established how and why to terminate the contract, and set the penalties to which there is room.

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denpristay [2]

Answer:

Bergman’s can be more efficient, not cumbersome to consumers

Explanation:

Priya acknowledges that competitors are changing its purchase method to an automated one. She sees the trend in consumer behavior and establishes that Bergman has to adopt this new method to be up to date in regards to market best practices.

Therefore, changing to an automated sales, Pryia believes that Bergman will be more modern, efficient and faster.  

5 0
3 years ago
For a not-for-profit private animal rescue agency, which account should be credited to record a gift of cash from an outside par
sesenic [268]

Answer:

Unrestricted net assets - contributions

Explanation:

Unrestricted net assets are donations made to any nonprofit organization (in this case the animal rescue agency) that can be used for unrestricted general expenses. The rescue agency can use this money for their normal day to day expenses or for whatever other expense that they consider necessary without any type of restriction.

While restricted net assets are donations that must be used for an specific purpose set by the donor.

8 0
3 years ago
A factory building is an example of which factor of production?
Luba_88 [7]

Answer:

The making and delivery of the product.

Explanation:

Because in a factory it manufactures the product that they are making and send them to stores to sell the products for money.

5 0
3 years ago
Besides the actual mortgage payment, which also factors into the monthly payment on a home?
Pie
Aside from the actual mortgage payments, you also pay for your monthly property taxes, homeowner's insurance, and home repairs.

Sometimes homeowners also pay for monthly dues to their homeowners association. This monthly dues include water, sewer, garbage, and maintenance of other amenities like clubhouse, pool, and tennis courts. 
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What do economists mean when they use the word "land"?
Ede4ka [16]
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