What Are the UCC's Exceptions to the Statute of Fraud's

question 15

Multiple Choice

What are the UCC's exceptions to the statute of fraud's writing requirements?

• A)Specifically manufactured goods,admission,and modification.
• B)Admission and partial-performance,but specifically manufactured goods must be in writing.
• C)There are no exceptions for the statute of fraud's writing requirements.
• D)Specifically manufactured goods,and admission,but there is no exception for partial performance.
• E)Specifically manufactured goods,admission,and partial performance.

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Definitions:

Market-Clearing Price

The price at which the market is in equilibrium, that is, the quantity of a good or service demanded equals the quantity of that good or service supplied; also referred to as the equilibrium price.

ATM Transaction

A financial operation, such as withdrawing or depositing money, conducted through an Automated Teller Machine.

Total Surplus

The sum of consumer surplus and producer surplus, representing the total net benefit to society from the production and consumption of goods or services.

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific period.