Asked by Anthony Rodriguez on May 21, 2024
Verified
Unlike the UCC,the CISG requires new consideration to modify a contract.
CISG
The United Nations Convention on Contracts for the International Sale of Goods, a treaty that provides a uniform international sales law.
Consideration
Something of value exchanged between parties in a contract that is necessary for the agreement to be legally binding, such as money, services, or promises.
UCC
Short for Uniform Commercial Code, it is a set of laws that provide legal framework for commercial transactions in the United States.
- Analyze the effect of modifications on contracts under various laws.
Verified Answer
AR
Alexa RolonMay 24, 2024
Final Answer :
False
Explanation :
Like the UCC,the CISG also states that a contract can be modified by "mere agreement" only.
Learning Objectives
- Analyze the effect of modifications on contracts under various laws.