The UCC Will Permit an Incomplete or Slightly Ambiguous Contract

question 40

Multiple Choice

The UCC will permit an incomplete or slightly ambiguous contract to be enforced using each of the following criteria except:

• A) past commercial conduct.
• B) industry standards or norms.
• C) judicial input of any terms necessary to maintain fairness.
• D) correspondence or verbal exchanges between the parties.

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Definitions:

Iso-profit Lines

Lines on a graph representing combinations of outputs that yield the same level of profit.

LP Maximization

Linear Programming Maximization, an optimization technique used to find the highest outcome of a linear objective function given a set of linear constraints.

Parallel

A term that describes events or processes occurring simultaneously within a system or operation.

Mathematical Technique

Refers to the use of mathematical methods and models to solve problems or make decisions, often utilized in engineering, physics, economics, and operations research.