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Kubas UCC and Common

Kubasek Differences between UCC and Common law

QuestionAnswer
When the transaction DOES NOT involve a sale or lease? Common or statutory law.
If the transaction provides services apply common law
when neither party is a merchant then only reasonable care applies to the parties.
merchants will be held to a higher standard of behavior under the UCC than will non-merchants.
mirror-image rule that applies under common law do not apply under the ucc.
Under the ucc additional terms are permitted in contracts for the sale or lease of goods.
The UCC eliminates the requirement of new consideration when modification of sales and lease contracts.
Any kind of documentation is usually sufficient to satisfy the "writing requirement" of the statute of frauds.
In Common Law, the terms include quantity, price, performance time, nature of work and identity of offer; whereas, the quantity is the main focus of the term in UCC.
Statute of Limitation is four to six years in Common Law; however the it is four years in UCC.
The contract in Common Law is discharged only because of impossibility like insanity/death of parties concerned or destruction of subject matter. the contract is discharged as per UCC only because of impracticability
privity of contract is required to sue as per the Common Law, it is not required as per the UCC
In the Common Law, if any change is made it would lead to rejection or counter offer of the offer; In UCC, minor changes do not have any impact and the original offer does not get cancelled.
Common Law does not allow revoking of the option contracts, the offers made by a firm is irrevocable if the deal is made in writing in UCC.
Common law requiring the lesser standard of substantial performance; whereas UCC requires perfect tender.
Created by: tinafici
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