The General Law of Contracts Is Displaced by the Code

question 30

True/False

The general law of contracts is displaced by the Code in all aspects of the sale of goods.

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Definitions:

Cancelling Contract

The legal act of nullifying an agreement, making it legally void and releasing all parties from their obligations under that agreement.

Remedy

in law, signifies the means by which a court of law enforces a right, imposes a penalty, or makes some other court order to impose its will in respect to a particular legal failure or injury.

Seller

An individual or entity that offers goods or services for sale to buyers in exchange for money or other compensation.

Lessor

The party in a lease agreement who owns the asset or property and grants its use to another party for a specific period, under certain conditions.