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Uniform Commercial Code
A comprehensive set of laws governing commercial transactions in the United States, aimed at standardizing laws across states.
Sale of Goods
A transaction in which ownership of physical products is transferred from a seller to a buyer for payment.
Partial Performance
The situation where a party has completed some, but not all, of their contractual obligations.
Statute of Frauds
A legal principle requiring certain types of contracts to be in writing and signed by the party to be charged, to prevent fraud and perjury in contractual dealings.
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