Hello fam✋ . Please find attached the completed work.
1. Law questions and answers
Running head: LAW QUESTIONS
Course Name and Number
1. What is the UCC (Uniform Commercial Code)?
The Uniform Commercial Code is defined as a collection of regulations that offer laws
and rules that govern profitable or transactions or business dealings.
2. Why does the UCC matter when discussing contract law?
UCC is applied during the sale of securities and goods, while the prevailing contract laws
typically apply to contracts for real estates, services, intangible assets, employment, and
3. What is a “sale” as it relates to the UCC?
A sale in UCC exists when a title is passed from a seller to the purchaser at a cost.
4. What is a “good” as it relates to the UCC?
According to UCC, a good is defined as all items, including products that are specialized
manufactures that are movable during identification to the contract.
5. What law governs a contract he has both the sale of goods and services included? A
commitment to sell products is a law that regulates the sale of items.
How does the court decide? The court chooses the contract of sale when there is the
presence of a deal where there is an agreement of transfer.
6. Describe a firm offer.
A firm offer is an offer that remains open for a particular time or occurrence of a specific
event or until a specific time during which it cannot be annulled.
7. Under the UCC, rights, and obligations are determined by who holds “title” to the
items in question. Explain what “title” means as it relates to the UCC.
The title means that the seller of products in a certain way or the other collects items to be
sold to mass inventories for them to be held or distributed for the purchaser.
8. What is a “future good” as it pertains to the UCC?
In UCC, future goods are defined as products that are bot identified and existing.
9. Explain what a “shipment contract” is under the UCC?
Shipment contract in UCC enables the seller and purchaser to apportion risk in case
products are either damaged or lost before a client receives the products. The seller
makes a promise to sell the items to a mutual carrier to ensure that delivery is done to the
10. Why is it important to understand who holds the “risk of loss” in a sales contract?
The importance of understanding who has the “risk of loss” in a sales contract is to
ensure that both the buyer and the seller understand that the seller maintains the danger of
loss until the moment when an item is entirely transferred to a client.
11. Explain why you might choose to ensure the sale of goods under the UCC.
UCC has an advantage in that in case an argument arises during a sale, the UCC acts as
the governing body and settles the dispute amicably.
12. Explain what a “good faith purchaser” is and when it would be an issue under the
A good faith purchaser is a trader who offers value for a product in good faith without the
know-how of adversative assertions and is essential because the buyer establishes
whether the purchase violates the security interest or ownership rights of third parties.
13. Define the theory of “perfect tender.”
The theory of perfect tender is a word that is used to refer to the legal privilege of a buyer
to persist that the purchased products precisely follow to the description of the item in
terms of quantity, quality, and the delivery method.
14. What does the "implied warranty of merchantability" ensure for customers?
Implied warranty of merchantability is defined as the assumed and unspoken guarantee
that a real property or an item is useful for use with regards to the standards required
during the manufacturing process.
15. What is “strict liability” as it applies to product liability?
Strict liability is a legitimate law that affirms that a distributor, manufacturer or seller of a
faulty item bears the responsibility to an individual harmed by that item even though the
defendant could have done the best to ensure that the damage did not take place.
16. What is a negotiable instrument?
A negotiable instrument is defined as a document that assures the payment of a certain
sum of money either on a set of time or on demand whereby the payer is named on the
17. What is a transfer warranty?
Transfer warranty is the promise that i...
15 Million Students Helped!
Sign up to view the full answer