Which of the following is a correct statement regarding the statute of limitations period recognized by the Uniform Commercial Code (UCC) for a breach of sales contract lawsuit?
A) The parties to a contract for the sale of goods may not shorten the statute of limitations period.
B) The parties to a contract for the sale of goods may shorten the statute of limitations period to one year.
C) The parties to a contract for the sale of goods may extend the statute of limitations beyond the time period recognized by the UCC.
D) There is no statute of limitations period for a lawsuit for breach of a contract for the sale of goods.

Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code (UCC), the parties to a sales contract may shorten the statute of limitations period to one year, but they may not extend it beyond the time period recognized by the UCC.

Which of the Following Is a Correct Statement Regarding the Statute