UCC

Question 1

UCC governs?

Answer 1

If sale of goods is “substantial part”. Note there are rules applying to merchants

Question 2

U.C.C.

Answer 2

Governs contracts involving the sale of goods

Question 3

“Sale” Defined

Answer 3

A sale is a contract in which title to goods passes from seller to buyer for a price

Question 4

“Goods” Defined

Answer 4

All things movable, at the time they are identified as the goods to be sold under the contract. Tangible things. NOT real estate, services, intangibles, or construction contracts

Question 5

Merchants vs. Nonmerchants

Answer 5

Merchant is one who regularly deals in goods of the kind sold or who otherwise by profession hold himself as having special knowledge or skills as to the practices of the goods involved.

Question 6

Acceptance

Answer 6

All offers are “indifferent” offers, meaning they may be accepted by promising or beginning performance.