Kubasek Differences between UCC and Common law
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| 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.
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
tinafici
Popular Law sets