Regency Construction Placed an Order for Two Hundred 2 X

question 1

Multiple Choice

Regency Construction placed an order for two hundred 2 x 4s from Lumber Jack.If the place of delivery and time for shipping the goods are not specified,the UCC provides:

• A) the place of delivery is Lumber Jack's and the time for delivering the lumber is a reasonable time based on normal trade practice.
• B) the place of delivery is Regency Construction and the time for shipping is within 30 days.
• C) the place of delivery is Lumber Jack's and the time for delivering the lumber is within 30 days.
• D) there is no contract because having more than one open term made the offer too indefinite.

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Definitions:

Repudiate

The rejection or refusal to acknowledge or pay a debt, or the denial of the validity of a contract.

Credit-Reporting Agencies

Organizations that collect, maintain, and provide information about the credit history of individuals and businesses to potential creditors.

Debtors

Individuals or entities that owe money to others.

Contract Voided

Refers to a contract that has been declared invalid and is therefore unenforceable, as if it had never been made.