The Term "Basis of the Bargain" Is a Test That

question 62

True/False

The term "basis of the bargain" is a test that is strictly applied by the courts under the UCC.

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Definitions:

Acceptance

The agreement to the terms of an offer, contract, or proposal, thereby creating a binding legal obligation.

Roof

The structure covering the top of a building, designed to protect against weather, animals, and other external factors.

Invitation

An offer to deal or negotiate that indicates a willingness to enter into a contract under specified terms.

Firm Offer

An offer made in writing by a merchant guaranteeing to hold the offer open for a specified period of time without revocation.