Under the UCC, When May Orders for Specific Performance of a Contract

question 57

Multiple Choice

Under the UCC, when may orders for specific performance of a contract for the sale of goods be awarded?

• A) Only when the goods are unique.
• B) Only when the goods are in excess of 500 in quantity.
• C) Only when the goods have been ordered at least six months in advance.
• D) When the goods are unique and when the goods are in excess of 500 in quantity.
• E) When the goods are unique or in other proper circumstances.

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Definitions:

Inelastic

Describes a situation where the demand or supply for a good or service is less responsive to changes in price.

Elastic Demand

A situation in economics where the demand for a product is sensitive to price changes, leading to a significant change in quantity demanded if the price increases or decreases.

Wage Increase

Refers to the rise in the hourly, daily, or monthly payments made to employees for their work or services.

Total Payroll

The complete amount of money a business pays to its employees over a specific period, including wages, salaries, bonuses, and deductions.