When Article 2 Is Silent on an Issue of Sales

question 51

Multiple Choice

When Article 2 is silent on an issue of sales contract formation or interpretation and there is no state statutory law in place on that matter,which law applies?

• A)The civil law rules
• B)Federal common law
• C)Federal statutory law
• D)The common law rules
• E)The Uniform Sales Act

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Definitions:

SCOR Model

Supply Chain Operations Reference model; a diagnostic tool for supply chain management, covering all business processes and measuring total supply chain performance.

ROA Improvement

Strategies or actions taken to increase the Return On Assets, which measures how efficiently a company uses its assets to generate earnings.

Channel Structure Management

The process of designing, organizing, and monitoring the distribution channels of a company to efficiently move goods or services from producers to end-users.

Supply Chain Process

The series of steps involved in producing and distributing goods or services, from raw material acquisition to delivery to the end user.