Asked by Keshawn Johnson on Jul 03, 2024
Verified
Under the UCC, a(n) __________ is a sequence of previous conduct between the parties to an agreement which may be fairly regarded as establishing a common basis of understanding for interpreting their conduct under the contract.
A) course of dealing
B) usage of trade
C) course of performance
D) extrinsic set of evidence
Course of Dealing
A sequence of previous conduct between parties to a contract that establishes a common basis for their understanding.
UCC
The Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.
- Acquire knowledge on the role of past interactions, established procedures, and industry norms in elucidating contracts.
Verified Answer
RJ
Rachael JulaineJul 07, 2024
Final Answer :
A
Explanation :
A course of dealing under the Uniform Commercial Code (UCC) refers to a pattern of previous conduct between the parties to a contract that is used to interpret their actions and the contract itself. This concept helps in understanding how the parties have acted in past transactions, providing a basis for interpreting their current contract.
Learning Objectives
- Acquire knowledge on the role of past interactions, established procedures, and industry norms in elucidating contracts.