Under the UCC, a Contract for a Sale of Goods

question 63

True/False

Under the UCC, a contract for a sale of goods that includes open terms is void.

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Definitions:

Cash Amount

The total value of cash on hand, including currency, coins, and balances in demand deposit accounts.

Accounts Receivable

Money owed to a business by its clients for goods or services that have been delivered or sold but not yet paid for.

Cash Amount

The total value of cash on hand or in bank accounts, easily accessible for immediate use by the business.

Cost of Merchandise Sold

The direct costs attributable to the goods sold by a company, including purchase price, freight, storage, and packaging.