1. Applicable Law

Question 1

Common law will apply to contracts dealing with:

Answer 1

Real Estate Transactions and Services Contracts

Question 2

UCC Article 2 will apply to contracts dealing with:

Answer 2

Contracts that are primarily for the sale of GOODS.

Question 3

To determine whether Common Law or UCC applies, determine

Answer 3

(1) the type of transaction, (2) subject matter of the transaction.

Question 4

In a “Mixed Deal,” to find out whether Common Law or UCC applies, use

Answer 4

(1) The General Rule of ‘all or nothing,’ focusing on the more important or central aspect of the deal. However. If the contract divides/allocates payment, then apply UCC to the sale of goods provision, and common law to the rest