The UCC and the Restatement Make No Provision for Supplying

question 9

True/False

The UCC and the Restatement make no provision for supplying terms omitted by the parties' contract.

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Definitions:

Petty Cash

A small fund kept on hand used for minor, miscellaneous expenses of a business.

Misc. Expense

Miscellaneous Expense refers to small, infrequent costs that are not categorized under a specific heading in financial statements.

Misc. Revenue

Miscellaneous revenue refers to income generated from activities not central to a business’s main operations.

Change Fund

Fund made up of various denominations that are used to make change for customers.