Which of the following is true of consideration for modifying a sales or lease contract under the UCC?
A)An agreement modifying a contract needs no consideration to be binding.
B)Modifying a contract requires consideration from the offeree's side.
C)An offeror who modifies a contract must do so by providing reasonable consideration.
D)The party providing the consideration must complete it within three months of acceptance.

Question

Quizplus · Accepted Answer

Under the Uniform Commercial Code (UCC), an agreement modifying a sales or lease contract does not require consideration to be binding, as long as the modification is made in good faith.

Which of the Following Is True of Consideration for Modifying