The Main Difference Between the UCC Requirement for a Writing

question 15

Multiple Choice

The main difference between the UCC requirement for a writing for a contract for the sale of goods and the common law is that the:

• A) UCC requires only the signature of both parties.
• B) UCC does not require all the terms of the agreement to be in writing.
• C) common law requires only an indication that the parties reached an agreement.
• D) common law requires only the signature of the defendant and the quantity of goods being sold.

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Definitions:

Exchange Rates

The exchange value of one currency for another.

Inflation Rates

The measure of how fast the standard price for services and products ascends, directly impacting the reduction in purchase power.

Exchange Rate

The equivalent worth of one currency in another.

Currency

A system of money in general use in a particular country, facilitating the exchange of goods and services.