The UCC Differs from the Common Law of Contracts in That

question 26

Multiple Choice

The UCC differs from the common law of contracts in that the UCC:

• A)is less concerned with technical rules.
• B)deals with the sale of intangibles.
• C)deals with service contracts.
• D)is less concerned with the "good faith" doctrine.

---

Definitions:

Increasing Returns to Scale

A situation in production where an increase in the quantity of inputs leads to a proportionally larger increase in output.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors.

Geegaws

Decorative trinkets or gadgets that are often considered unnecessary or superficial.

Doodads

Non-essential, often whimsical objects that serve as decorative items or gadgets with no critical function.