Asked by Natali Hernandez-Chavez on Apr 27, 2024
Verified
When Article 2 is silent on an issue of sales contract formation or interpretation and there is no state statutory law in place on that matter, which law applies?
A) The common law rules
B) The civil law rules
C) Federal common law
D) Federal statutory law
E) The Uniform Sales Act
Common Law
A legal system based on court decisions and precedents rather than statutes.
Sales Contract
A legal agreement between a buyer and seller detailing the terms of sale for goods or services.
Statutory Law
The assortment of rules and regulations put forth by legislatures.
- Understand how state and common law rules integrate with the UCC in areas where it is silent.
Verified Answer
LA
Leslie AshcraftMay 01, 2024
Final Answer :
A
Explanation :
When Article 2 of the Uniform Commercial Code (UCC), which governs sales of goods, does not address a specific issue related to sales contract formation or interpretation, and there is no applicable state statutory law, the common law rules apply. The common law of contracts serves as the default system of rules in such cases.
Learning Objectives
- Understand how state and common law rules integrate with the UCC in areas where it is silent.
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