Which of the Following Is a Contract Most Likely to Fall

question 110

Multiple Choice

Which of the following is a contract most likely to fall under UCC Article 2:

• A) IBM sells an office building in Atlanta to Microsoft
• B) GM buys seat belts from Ace to install in new Cadillacs
• C) Nock hires CompuW to service its computers for a year so they are kept in good condition
• D) Disney buys the copyright on a book to make it into a movie
• E) none of the other choices

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Definitions:

Surplus

The situation in which the quantity supplied of a product exceeds the quantity demanded, often leading to price decreases.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service, intended to protect consumers.

Price Floor

A minimum price set by the government for certain goods and services, intended to ensure fair conditions for producers.

Shortage

A situation where demand exceeds supply, often leading to rising prices and unmet consumer needs.