Under Article 2 of the UCC, Why Does It Matter

question 7

Multiple Choice

Under Article 2 of the UCC, why does it matter whether a party to a contract is a merchant?

• A) It is the test for applying Article 2 of the UCC.
• B) Merchants sometimes are treated differently than other parties.
• C) All contracts in which one or both parties are merchants are handled under Article 2A of the UCC.
• D) Article 2 does not concern itself with cases regarding the transactions of goods.

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Definitions:

Information-Processing Capability

Information-Processing Capability refers to the efficiency and effectiveness with which an organization can process, store, and retrieve information to make decisions, solve problems, and adapt to new situations.

Adaptive Organisations

Organizations that are able to change and evolve in response to changes in the market, technology, or external environment.

Growth Strategies

Growth strategies involve expansion of the organisation’s current operations.

Organic Designs

Organizational structures that are flexible, decentralized, and characterized by open communication channels.