According to the rationale behind the statute of frauds of the UCC, all of the following statements are correct, except
A) A writing provides evidence of the terms of the contract.
B) A writing indicates that the parties are taking the transaction more seriously.
C) A writing indicates that the parties have taken time to consider the consequences by writing it down.
D) A writing indicates that both parties are commercially literate.

Question

Quizplus · Accepted Answer

The statute of frauds, as outlined in the Uniform Commercial Code (UCC), primarily aims to ensure that certain types of contracts are evidenced by a written document to prevent fraud and misunderstandings. It does not assume or indicate that both parties are commercially literate; rather, it focuses on the existence of a written record, seriousness of the transaction, and deliberation by the parties involved.

According to the Rationale Behind the Statute of Frauds of the UCC