Which of the following is true regarding payment and the place for delivery if those terms are left open under the UCC?
A) There is no contract if these terms are omitted.
B) If payment terms are omitted, payment is due at the time and place at which the buyer is to receive the goods, and the place for delivery is the seller's place of business.
C) If payment terms are omitted, payment is due at the time and place at which the buyer is to receive the goods, and the place for delivery is the buyer's place of business.
D) If payment terms are omitted, payment is due at least 10 days prior to the date set for delivery, and the place for delivery is the seller's place of business.
E) If payment terms are omitted, payment is due at least 10 days prior to the date set for delivery, and the place for delivery is the buyer's place of business.

Question

Quizplus · Accepted Answer

Under the Uniform Commercial Code (UCC), a contract for the sale of goods can still exist even if certain terms, such as payment and place of delivery, are left open. Specifically, if payment terms are omitted, the default rule is that payment is due at the time and place at which the buyer is to receive the goods. Additionally, if the place for delivery is not specified, the default location is the seller's place of business. This facilitates commerce by filling in gaps in contracts with reasonable defaults.

Which of the Following Is True Regarding Payment and the Place