Which of the Following Is True of Preexisting Contractual Duties

question 56

Multiple Choice

Which of the following is true of preexisting contractual duties and their modification under the UCC?

• A)There is no provision of modifications due to unforeseen circumstances.
• B)No modifications can be made to an existing contract that is binding.
• C)Modification requires "mere agreement" on the part of those involved.
• D)Rules for contractual modifications are different for the UCC and the CISG.

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Definitions:

Generations

Groups of people born and living during the same period, typically considered to be about thirty years, influencing society's dynamics through their collective experiences.

Political Alliances

Formal agreements or partnerships between countries, political parties, or other political entities to achieve mutual goals.

Convention

A large meeting or conference, often organized by a particular industry or group, where people gather to discuss mutual topics or interests.

Hispanic Americans

Americans who are descendants of people from countries in Latin America and the Iberian Peninsula.