The UCC Allows the Purchaser to Reject the Entire Shipment

question 17

True/False

The UCC allows the purchaser to reject the entire shipment, but not a part of the shipment, for cause.

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Definitions:

Doctrine of Ultra Vires

A principle stating that actions taken by a corporation that are beyond its legal power or authority are invalid.

Duty of Loyalty

An obligation to act in the best interest of another party, typically in fiduciary relationships.

Corporate Opportunity

A legal doctrine that prohibits directors, officers, and controlling shareholders of a corporation from taking a business opportunity for themselves that rightfully belongs to the corporation.

Canada Business Corporations Act

A Canadian federal statute that governs the incorporation, governance, and dissolution of companies in Canada.