Suppose Two Parties to a Contract That Is Under the UCC

question 97

Multiple Choice

Suppose two parties to a contract that is under the UCC decide to make a significant change in the contract, obligating the seller to provide more goods. When the terms of the contract change, it requires:

• A) fair market value consideration
• B) at least nominal consideration
• C) trade usage consideration
• D) signing a new contract to evidence a willingness to change
• E) no consideration

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Definitions:

Template

A pre-designed model or structure used as a guide to shape or form subsequent processes or objects.

Prototype

A prototype is an original model or preliminary version of a product or concept from which other forms are developed or copied.

Vehicle

A means of transporting people or goods from one place to another, such as a car, bicycle, or airplane.

Glider

A type of aircraft that is supported in flight by the dynamic reaction of the air against its lifting surfaces, and whose free flight does not depend on an engine.