9 Questions
Which contracts require communication of acceptance under the UCC?
Unilateral contracts
What is the difference between the mirror image rule and the UCC rule for contract terms?
The UCC applies to UCC contracts, while the Mirror Image rule applies to common law contracts.
What is required for UCC sales agreements?
Consideration
What is the threshold for the Statute of Frauds to require a writing for contracts?
$500 for goods and $1,000 for lease contracts
Which of the following is not an exception to the Statute of Frauds?
Verbal agreements
What can parole evidence do to fully integrated written contracts?
It can supplement them through consistent additional terms, course of dealing, usage of trade, and course of performance
Which contract terms have priority over course of performance, course of dealing, and usage of trade?
Express terms
What can the court do with unconscionable contracts or clauses?
Both A and B
What does the UCC provide for sales contracts between merchants?
Specific rules and exceptions
Study Notes
- Communication of acceptance is required for unilateral contracts under the UCC.
- The mirror image rule applies to common law contracts, but the UCC allows for different or new terms to be added.
- Additional terms become part of the contract between merchants unless limited by the offer or materially alter the contract.
- Consideration is required for UCC sales agreements, but modifications need not have new consideration.
- The Statute of Frauds requires a writing for contracts over $500 for goods or $1,000 for lease contracts.
- Exceptions to the Statute of Frauds include specially manufactured goods, admissions, and payment or acceptance.
- Parole evidence cannot contradict fully integrated written contracts but can supplement them through consistent additional terms, course of dealing, usage of trade, and course of performance.
- Express terms have priority over course of performance, course of dealing, and usage of trade.
- Unconscionable contracts or clauses can be refused enforcement or limited by the court.
- The UCC provides specific rules and exceptions for sales contracts between merchants.
Are you familiar with the legal principles governing contracts under the Uniform Commercial Code (UCC)? Test your knowledge with our quiz on UCC contracts, including topics such as acceptance, consideration, the Statute of Frauds, parole evidence, and unconscionability. You'll also learn about the specific rules and exceptions that apply to sales contracts between merchants. Sharpen your legal skills and take the quiz now!
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