Uniform commercial code state

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Reference no: EM132233716

1. Which of the following does Section 2A-201(1) of the Uniform Commercial Code state?

a. Sales contracts involving payments of $500 or more must be in writing.

b. All sales contracts must be in writing.

c. All lease contracts must be in writing.

d. Lease contracts involving payments of $1,000 or more must be in writing.

2. If a buyer purchases a car believing that it has a V-8 engine, but the car actually has a V-6 engine, then -

a. this is a mutual mistake.

b. the contract must be in writing.

c. the contract is not enforceable; the buyer may rescind.

d. the contract is enforceable.

3. An unconditional promise to perform is called:

a. condition subsequent

b. condition precedent

c. discharge

d. covenant

Reference no: EM132233716

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