Perry and Tim Negotiate a Contract Governed by the UCC

question 25

Multiple Choice

Perry and Tim negotiate a contract governed by the UCC. Tim wants to extend the time to make a warranty claim, so Perry and Tim agree that Tim could sue for breach any time within eight years. Tim sues for breach after six years. Can Tim make a claim?

• A) Yes, because there is a 10 year statute of limitations under the UCC.
• B) Yes, because the parties are free to negotiate any statute of limitations they want.
• C) No, because parties to a contract are never allowed to negotiate on the statute of limitations.
• D) No, because the UCC requires a lawsuit to be brought within four years and parties to a contract are not free to negotiate a longer time period than the UCC's four year limit.
• E) It depends upon the contract terms.

Understand the role and impact of anger management techniques in professional settings.

Recognize the significance of developing foundational job skills for career progression.

Identify the importance of community engagement and social belonging in academic success.

Understand the ethical considerations in academic and professional settings.

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Definitions:

Mental Set

A psychological framework or mindset that predisposes an individual's thoughts, behavior, or perception, often making it difficult to think in new or creative ways.

Incubation

The period of subconscious processing that contributes to problem-solving after an initial period of work on a problem.

Water Jar Study

A set of cognitive psychology experiments that assess problem-solving abilities and the influence of mental set on participants' approaches to solving problems.

Analogous Problem

A problem that shares similar features with another problem, allowing solutions or insights from one to inform the other.