Asked by ESTELA LUCCHESI on Jul 20, 2024
Verified
According to the Uniform Commercial Code,a buyer who has accepted goods may later revoke the acceptance even if the buyer cannot demonstrate that the defects substantially impair the value of the goods.
Substantially Impair
A legal term describing conditions where the value, use, or function of something is significantly decreased or hindered.
Uniform Commercial Code
A comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and harmonize the law among different jurisdictions.
Acceptance
A key factor in the agreement element of a contract; consists of the agreement of one party, the offeree, to the terms of the offer in the contract made by the other party, the offeror.
- Identify the conditions under which buyers and sellers have the right to reject, revoke acceptance, or demand performance of contracts.
- Describe the perfect tender rule and its exceptions.
Verified Answer
Learning Objectives
- Identify the conditions under which buyers and sellers have the right to reject, revoke acceptance, or demand performance of contracts.
- Describe the perfect tender rule and its exceptions.
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