Question

In contracts other than those governed by the Uniform Commercial Code (UCC), which of the following is/are required for a writing to be considered sufficient under the statute of frauds? A. Identification of the parties to the contract B. Identification of the subject of the agreement C. Identification of the law applicable to the contract D. Identification of the parties to the contract, identification of the subject of the agreement, and identification of the law applicable to the contract D. Identification of the parties to the contract and the subject of the agreement, but not the law applicable to the contract

Answer 1

Correct reply is In contracts different than these governed by using the Uniform Commercial Code (UCC), Identification of the events to the contract and the situation of the agreement, however not the regulation applicable to the contract required for a writing to be regarded enough beneath the statute of frauds.

UCC (Uniform Commercial Code) is a criminal instrument governing and legalizing specific enterprise contracts. It Merges guidelines from various laws regarding industrial transactions. UCC is no longer a federal law, but a uniformly adopted state legislation.

What is the cause of the Uniform Commercial Code UCC )?

Created by using the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute (ALI), the important motive of the UCC is to make enterprise things to do consistent and consequently efficient, throughout all U.S. states.

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