The "confirmatory memorandum" exception to the UCC's statute of frauds provision:
A)requires that the memorandum be signed by the party to be bound.
B)requires that the memorandum be sent within ten days after the contract is made.
C)requires that both parties receive the memorandum and have reason to know of its contents.
D)requires that both parties to the contract be merchants.

Question

Quizplus · Accepted Answer

The confirmatory memorandum is the official confirmation memo of the contract.The "confirmatory exception" to the UCC rules can be applied if both the parties in a contract are merchants.

The "Confirmatory Memorandum" Exception to the UCC's Statute of Frauds