Ollie Buys a Cup of Coffee for $2, a Magazine

question 30

Multiple Choice

Ollie buys a cup of coffee for $2, a magazine for $5, and a boombox for $600. The requirement of a writing for the enforceability of a contract for a sale of goods at, or for more than, a certain price is governed by

• A) the common law.
• B) the parol evidence rule.
• C) the parties' agreement.
• D) the Uniform Commercial Code.

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Definitions:

Mediating Structures

Intermediate organizations or networks that facilitate the interaction between individuals and larger institutions, promoting social integration and cohesion.

Rational Acts

Actions or decisions that are made based on logical reasoning and coherent analysis, aiming at maximizing benefits while minimizing costs and risks.

Voice of the People

A term used to describe the opinions, wishes, or preferences of the general public or a particular segment of society.

Basis of Economy

The foundational elements or activities that support and drive the economic systems, such as production, consumption, and trade.