Asked by Vanessa Ramirez on May 03, 2024
Verified
Today,promises under seal are:
A) enforceable in some states for contracts not involving goods.
B) enforceable under the UCC for contracts involving goods.
C) enforceable under the UCC if made by a merchant,in writing,stating the time period over which the offer will remain open.
D) unenforceable as a consideration in a new contract.
Promises Under Seal
Legally binding agreements marked with a seal, signifying a formal commitment beyond a standard contract.
UCC
Stands for the Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.
- Acquire insight into the theory and legal consequences of enforceable and non-enforceable contracts.
Verified Answer
ZK
Zybrea KnightMay 08, 2024
Final Answer :
A
Explanation :
Promises under seal were once considered legally binding in all states, but now only a few states still recognize them. In those states, they may still be enforceable for contracts not involving goods. However, under the UCC, seals have no legal significance and promises under seal are not enforceable for contracts involving goods. Additionally, promises under seal cannot serve as consideration in a new contract.
Learning Objectives
- Acquire insight into the theory and legal consequences of enforceable and non-enforceable contracts.