Article 2 of the ucc Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Article 2 of the ucc? On this page you'll find 183 study documents about Article 2 of the ucc.
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CLFP Classification & Terminology in Leasing Exam Questions and Answers Latest 2024-2025 (GRADED)
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CLFP Classification & Terminology in Leasing Exam Questions and Answers Latest (GRADED) Per IRS Revenue Ruling 55-540, what are the rules that if present prevent a transaction 
from being a lease for tax purposes? - Correct Answer-1). Any portion of the periodic 
payment is equity, 
2.) lessee automatically acquires title upon making scheduled payments 
3.) the total amount, which a lessee is required to be paid is an inordinately large portion 
of the total sum to buy the equipment, 
4.) Nomin...
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BUL 4422 Exam 1 2024 Questions and Answers 100% Correct(Graded A)
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BUL 4422 Exam 1 2024 Questions and Answers 100% Correct(Graded A) 
 
 
Three sources of laws that interpret sales contracts exist: - ANSWERS1. state common law 
2. the uniform commercial code, and 
3. state statutory law 
 
Every state except _________ has adopted Article 2 of the UCC. - ANSWERSLouisiana. Louisiana's civil tradition is based on Code Napoleon, or the French Civil Code. 
 
Article 2 describes ________ of goods, while Article 2(A) describes the __________ of goods. - ANSWERSArti...
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GBL 385 Exam #2 Questions and Answers 100% Verified
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What is a Contract? - A contract Is a Legally Enforceable Agreement (offer and Acceptance) 
Voluntarily Entered Into between two (or more) Competent Parties, to Do or Not to Do something that is 
Possible to Be Done, that is Not Unlawful, and that is supported by Consideration. 
A valid contract must... - A validly formed contract must provide a basis for determining the 
existence of a breach and for giving an appropriate remedy [Restatement § 33]. 
Non-goods contracts - Non-goods contracts, a...
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BUSI 301 Chapter 8 questions with correct answers 100%
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BUSI 301 Chapter 8 questions with correct answers 100%goods - correct answer tangible personal property that is movable at the time of identification to a contract of sale; money and information are not included under the UCC, however future goods are 
 
The UCC applies only to: - correct answer sales contracts 
 
sales contract - correct answer A contract for the sale of goods under which the ownership of goods is transferred from a seller to a buyer for a price. 
 
merchant - correct answer On...
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BUS 201 final exam| 150 Questions| With Complete Solutions
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UCC correct answer: modifies terms of a contract that are silent 
 
Sale correct answer: Passing title from seller to buyer for a price. Price may be in cash or in other goods or services 
 
Article 2 correct answer: Modifies the common law of contracts in certain areas, especially if one of the parties is a merchant 
 
Goods correct answer: must be tangible and movable (not land, services or intangibles) 
 
Merchant correct answer: A merchant is one who deals in goods of the kind sold, and...
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CPCM Practice Test Questions with Correct Answers
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CPCM Practice Test Questions with 
Correct Answers 
 
Competitive negotiation - Answer-A method of contracting involving a RFP that states: 
-The buyer's requirements and criteria for evaluation 
-Submission of timely proposals by a maximum number of offerors 
-discussion with those offerors found to be within the competitive range 
-award of a contract to the one offeror whose offer, price and other consideration factors 
are most advantageous to the buyer 
R&D Contract - Answer-A contract for...
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CPCM Practice Exam 4 Questions with Correct Answers
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CPCM Practice Exam 4 Questions with Correct Answers 
 
A government contracting officer representative is designated via a letter of appointment signed by the contracting officer that delineates specific duties and responsibilities. This is an example of: 
A:Specified authority 
B:Express authority 
C:Delineation of authority 
D:Written agency - Answer-B:Express authority 
 
When someone not authorized to act on behalf of a principal causes action by another party, it is: 
A:Implied authorit...
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BUL 4422 Exam 1 2024 Questions & Answers 100% Correct(Graded A+)
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Three sources of laws that interpret sales contracts exist: - ANSWERS1. state common law 
2. the uniform commercial code, and 
3. state statutory law 
 
Every state except _________ has adopted Article 2 of the UCC. - ANSWERSLouisiana. Louisiana's civil tradition is based on Code Napoleon, or the French Civil Code. 
 
Article 2 describes ________ of goods, while Article 2(A) describes the __________ of goods. - ANSWERSArticle 2: Sales of goods 
Article 2(A): Leases of goods 
 
When UCC Articl...
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BUL 5810 Exam 3 Questions & 100% Correct Answers
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Most contracts are governed primarily by State ___________ ______, including 
contracts involving employment, services, insurance, real property (land and 
anything attached to it), patents, and copyrights. 
 ~~> common law 
Article 2 of the UCC governs the: 
 ~~> sale of goods 
"Sale" is defined as: 
 ~~> the transfer of title from seller to buyer. 
Goods are defined as: 
 ~~> tangible personal property (personal property is all property 
other than an interest in land) 
In...
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BUSA 311 Study Questions with Complete Solution 2023/2024
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What does lex mercatoria mean? - Correct Answer "law merchant" 
-a custom made law created by the merchants who used it regarding promises, sale and exchange of goods and payment (1500s England) 
 
The UCC was created as a proposal by... - Correct Answer American Law Institute and National Conference of Commissioners scholars 
 
What does Article 1 of the UCC cover? - Correct Answer General Purposes (purposes, guide, definitions) 
 
What does Article 2 of the UCC cover? - Correct Answer Sale o...
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