Which of the Following Statements Is True

question 15

Multiple Choice

Which of the following statements is true?

• A)In a forward contract the buyer and seller agree on a price at time 0 and the bonds are delivered by the seller to the buyer 'at that time'.
• B)In a forward contract the buyer and seller agree on a price at time 0 and the bonds are delivered by the seller at a future point in time, for example, after three months.
• C)In a forward contract the buyer and seller enter into a contract at time 0, the contract is marked to market on a daily basis, and the buyer pays the forward price quoted at expiry.
• D)None of the listed options are correct.

Distinguish between the common law of contracts and the law of sales under Article 2, focusing on specific areas of distinction.

Understand the applicability and differences of the parol evidence rule under both the common law of contracts and Article 2.

Explain the requirements for a writing under the UCC for a contract for the sale of goods and identify exceptions to this requirement.

Grasp the concept of firm offers according to the Code and how they differ from other forms of offers.

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