The UCC Modifies the Common Law Rule by Requiring Additional

question 28

True/False

The UCC modifies the common law rule by requiring additional consideration for the modification of a contract.

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Definitions:

Capitalist System

An economic system where trade, industries, and the means of production are largely or entirely privately owned and operated for profit.

Supply Curve

A graph showing the relationship between the price of a good and the quantity of the good that suppliers are willing to provide.

Left Shift

In computing, it refers to the operation of moving bits of a binary number to the left, effectively multiplying the number by a power of two.

Capitalism

Economic system that rewards companies for their ability to perceive and serve the needs and demands of consumers; also called the private enterprise system.