Asked by Ciera Guthrie on Jul 19, 2024
Verified
In exclusive dealing contracts under the UCC,sellers have an obligation to use their best efforts to supply the goods to the buyer.
Exclusive Dealing
An agreement between a supplier and a retailer where the retailer agrees to only purchase goods from the supplier, excluding products from competitors.
Best Efforts
A contractual obligation that requires one party to exert all possible efforts to fulfill the terms of the contract without guaranteeing a specific outcome.
UCC
The Uniform Commercial Code is an extensive collection of regulations that oversee commercial dealings within the United States.
- Understand the legal responsibilities of entities involved in a sales contract according to the UCC.
Verified Answer
KA
kelsie abundizJul 25, 2024
Final Answer :
True
Explanation :
The Code says that unless the parties agree to the contrary,sellers have an obligation to use their best efforts to supply the goods to the buyer and the buyers are obligated to use their best efforts to promote their sale.
Learning Objectives
- Understand the legal responsibilities of entities involved in a sales contract according to the UCC.