In: Accounting
Under the UCC Sales Article 2, which of the following conditions will prevent the formation of an enforceable sale of goods contract
Select one: A) open price B) open delivery C) open quantity D)open acceptance
Correct Answer:
Option (D) or open acceptance is a correct answer because open acceptance will prevent the formation of an enforceable sale of goods contract.The open acceptance may be express by orally,by action, by Writing or by actual acceptance of the contract.For forming any contract there must be valid offer and valid acceptance of an offer.
Incorrect answers:
Option(A) or open price is incorrect answer because open price will not prevent the formation of an enforceable sale of goods contract. The open acceptance will prevent the formation of an enforceable sale of goods contract.
Option(B) or open delivery is incorrect answer because open acceptance will prevent the formation of an enforceable sale of goods contract.
Option(C) or open quantity is incorrect answer because it will not prevent the formation of an enforceable sale of goods contract.
So correct answer is option(D) or open acceptance