Asked by
Mansur Amirxanov
on Nov 21, 2024Verified
Which of the following is the reason the Uniform Commercial Code was drafted?
A) Different states had different laws governing contracts which did not result in a smooth flow of interstate commerce.
B) Some states had no law governing contracts.
C) Federal law governing contracts was difficult to apply.
D) The Uniform State Act on laws was not working.
E) The Restatement of the Law Second, Contracts was not being evenly and fairly applied.
Uniform Commercial Code
An extensive collection of regulations that oversee every commercial activity in the United States, designed to synchronize the legislation of sales and various commercial dealings throughout the states.
Interstate Commerce
Trade, traffic, or transportation involving the crossing of state lines, regulated by the federal government.
Contracts
Agreements that create legally enforceable obligations between parties, typically involving the exchange of goods, services, money, or promises.
- Analyze the role and application of the Uniform Commercial Code (UCC) in contract law.
Verified Answer
TD
Learning Objectives
- Analyze the role and application of the Uniform Commercial Code (UCC) in contract law.