The UCC Does Not Allow a Seller to Cancel a Contract

question 84

True/False

The UCC does not allow a seller to cancel a contract if the buyer is in breach although a lessor may do so.

---

Definitions:

Investing Section

A part of the statement of cash flows that reports the purchase and sale of long-term investments and property, plant, and equipment, reflecting how the company invests its cash.

Financing Section

Part of the cash flow statement that records cash activities related to funding the company, such as obtaining loans or issuing stock.

Statement of Cash Flows

A financial statement summarizing the total cash earnings from a company's operational activities and investments, alongside the expenses and investments paid out over a specific time frame.

Accounting Equation

A fundamental principle of accounting stating that assets equal liabilities plus owners' equity (Assets = Liabilities + Equity).