The following question is based on the Sales Contract found in the Contracts Module. Please reference the Sales Contract by clause number as you answer the questions. Remember, this is a contract under the UCC.You, the buyer, contend that you received non-conforming goods as a result of an ambiguity in the contract. You ordered goods thinking you would get a particular product. You wanted Razor scooters. That was the original oral communication when you first contacted the selling merchant. You both talked about and agreed on Razor scooters. Thereafter, in phone conversations, you and the seller just used the phrase scooters. The seller prepared a written contract. The contract was signed by both parties. The selling merchant then shipped scooters that are in perfect condition but they are not Razor scooters. The selling merchant believes the goods are conforming. Upon receipt and inspection of the goods, what are all your merchant options under the contract and at law?You will be given a contract with questions to be answered for the contract. I am looking for the ability to read and comprehend the contract so the appropriate contract clause can be applied to the questions connected with the contract. In order to answer the contract fact scenario, you will also need to be able to identify the legal concept that is applicable to the situation described. This is an analysis so please treat it as such. Your personal opinion is not appropriate.This analysis is worth 21 points. Within each question, a student will be given 2 points for the text reference, 3 points for the contract reference, with 8 points for the analysis. Please remember, NO outside references. UCC Sales ContractEssay (2 complete paragraphs minimum per essay with text and contract references to support your answers)* (Why are text references important? Contract language does not exist in a vacuum. It is written based on the law. It is critical, therefore, to cite to the readings and the contract to support your analysis.)

NAKED SHORT SELLINGOverviewThe declining values in Fannie Mae and Freddie Mac stocks in 2007–2008 were the result of risky mortgages and foreclo-sures. This led to a surplus of declining real property values in the United States and a significantly negative impact on equity prices and financial markets in the United States and around the world. It’s likely that this topic will be studied for many years, as Alan Greenspan, former Federal Reserve Chairman, has referred to it as a once-in-a-century “financial tsunami.”On the following page are graphic representations of the stock price per share for Fannie Mae (FNM) (Figure 1) and Freddie Mac (FRE) (Figure 2), the holders of approximately 50 percent of the mortgages in the United States.InstructionsRead the boxed article, “Reinflating Real Property Values,” by A. J. Cataldo and Anthony P. Curatola, from Strategic Finance, October 2008. Then respond to the questions that follow. Feel free to use Google, Wikipedia, or any other reliable Internet sources for your research. Be sure to verify your answers by checking multiple sources.