UCC Section 2-301 Outlines What Basic Duty of the Buyer

question 62

Multiple Choice

UCC section 2-301 outlines what basic duty of the buyer?

• A) To pay a price on the goods that gives seller a profit
• B) To designate an agent in each state the buyer operates
• C) To accept and pay for goods shipped by the seller
• D) To be honest to creditors regarding the sales contract

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Definitions:

Assignment

The process of moving rights, ownership, or duties from one entity to another.

Speelman V. Pascal

A landmark legal case that dealt with copyright infringement and the assignment of copyrights, setting precedents in intellectual property law.

Gratuitous Assignment

The transfer of rights or property from one party to another without the expectation of receiving something in return.

Assignor's Death

The occurrence and effects on a contractual agreement or obligation when the individual who assigned their rights or obligations under the contract dies.