Under the sales article of the UCC, which of the following statements is CORRECT concerning a...

Under the sales article of the UCC, which of the following statements is CORRECT concerning a contract involving a merchant seller and a non-merchant buyer?

(A) The contract may not involve the sale of personal property with a price of more than $500.

(B) The contract will be either a sale or return or sale on approval contract.

(C) Only the seller is obligated to perform the contract in good faith.

(D) Whether the UCC sales article is applicable does not depend on the price of the goods involved.

Expert Solution

The correct answer is Option (D) Whether the UCC sales article is applicable does not depend on the price of the goods involved.

Explanation:

UCC applies to all contracts (regardless of price). It is just important to note that contracts above $500 will be under writing under the "Statue of Frauds." It is also important to note that all parties must perform in good faith under the sales article of the UCC.

Rahul Sunny answered 2 years ago

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