Question

Section 2-201 of the UCC provides that contracts for the sale of goods for $500 or more are unenforceable unless: a. A written statement recognizes that an agreement exists b. There is a written signature against the party whom enforcement is sought c. A written indication of the quantity of goods being sold. d. All of these are correct.

Answer 1

Answer:

All of these are correct.

Explanation:

The Uniform Commercial Code (UCC) is a standardized set of laws and regulations that is used for transacting business. The UCC code was established to make it easy and convenient for different organizations to transact business across state lines.

The UCC laws are laws are established to control the sale of personal property and other business transactions. Transactions such as borrowing money, renting of equipments or vehicles, setting up contracts, and selling of various goods are all covered by the Uniform Commercial Code.

The contract for the sale of a good for price of $500 or more is not enforceable by way of action or defence unless there is some form of writing sufficient to indicate that a contract for sale has been made between both parties and signed by the authorized agent.

Answer 2

Answer:

d. All of these are correct.

Explanation:

The UCC are a set of guidelines that deals with contracts involving sale of goods. It settles disputes that occur during such transactions.

Section 2-201 of the UCC deals with statute of fraud.

Contract for a sale of goods is not enforceable unlesss there is some written contract of sale by the party against who enforcement is sought or his official agent.

This document also a written signature of the party against whom enforcement is sought, and a written indication of the quantity sold.