UCC Flashcards
1
Q
Requirements of a contract
A
- Offer and acceptance of that offer
- Consideration or a substitute
- Legal capacity of the parties, and
- A legal objective
2
Q
What does the UCC govern?
UCC
A
Governs “sale of goods”
3
Q
Sales are:
A
Transaction where seller transfers title to buyer for purchase of goods, for value
4
Q
What are NOT sales?
A
Leases, bailments, or other transactions short of sales
5
Q
What are goods?
A
Any moveable item
6
Q
What is the rule for hybrid cases?
A
Majority rule: determine which laws applies to the predominate purpose of the transaction
7
Q
Predominant Purpose Factors
A
- Language of the contract
- Nature of the supplier’s business, and
- Relative values of goods versus service
8
Q
Computer software
A
Treat as goods under UCC
9
Q
Services Contract with incidental Goods
A
Governed by common law
10
Q
Sale of Goods with incidental Services
A
Governed by the UCC
