What is true about the consideration required for modifications made to a sales or lease contract?
A) Under the UCC, no additional consideration is required for modifications made to a contract.
B) Under common law, no additional consideration is required for modifications made to a contract.
C) Under the UCC, additional consideration is required for modifications made to a contract.
D) Under common law, additional consideration is required for modifications, only if, the modifications materially change the terms of the contract.
E) Under both the UCC and common law, additional consideration is only required if the parties agree in the original contract to provide such additional consideration for modifications.

Question

Quizplus · Accepted Answer

Under the UCC (Uniform Commercial Code), no additional consideration is required for modifications to a sales or lease contract, as long as the modification is made in good faith.

What Is True About the Consideration Required for Modifications Made