Under the Revised and New UCC, a Contract for the Sale

question 15

True/False

Under the revised and new UCC, a contract for the sale of a car for $700 need not have a record of the contract to be enforceable.

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Definitions:

Risk

The exposure to potential financial losses or operational failures due to uncertain future events.

Value

The importance, worth, or usefulness of something, often considered in terms of monetary, cultural, or personal significance.

Evaluative Criteria

Standards or benchmarks used to assess or judge the quality, value, or suitability of something, such as a program, research study, or service.