In Their Contract for the Sale of Window Shades, Lela

question 10

True/False

In their contract for the sale of window shades, Lela Window Treatments, Inc. and Shane agree that Lela will have the right to replace any defective goods that are delivered to Shane. This contractual provision will not have any effect because the perfect tender rule of the UCC will control in a sale of goods transaction.

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Definitions:

Crowdfunding Backers

Individuals who support a crowdfunding project with financial contributions in exchange for rewards or equity.

Product

An item, system, or service created through a process and offered in the market to satisfy the needs or wants of consumers.

Equity Crowdfunding

A method of raising capital through the sale of small equity stakes in a business to a large number of investors via online platforms.

Formal Investment

The act of putting money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit, typically through an official or regulated framework.