Code Section Matching: A.A Written Contract May Be Explained or Supplemented by Course

question 24

Essay

Code Section Matching:
a.A written contract may be explained or supplemented by course of dealing,usage of trade,course of performance,or evidence of consistent additional terms unless the parties intended the writing to be a complete and exclusive statement of their agreement.b."Good faith" means honesty in fact in the conduct or transaction concerned.c.An offer to make a contract is construed as authorizing acceptance in any reasonable manner.d.Variant acceptances;modification of "mirror image" rule.e.Definition of a "merchant."
f.The common law of contracts applies where the Code has not specifically modified general contract law.g.Unconscionable contracts.h.The Article 2 statute of frauds.i.Open terms;gap-filler provisions.j.Firm offers.k.Defines "sale."
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Definitions:

Import Quota

A government-imposed limit on the quantity of a certain good that can be imported into a country, used to protect domestic producers.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market stability.

Coffee

A beverage made from brewed coffee beans, widely consumed globally and subject to market dynamics affecting its price and supply.

Quota Rents

The earnings that accrue to the licensee of an import license when the government imposes a quota.