Which of the following is true regarding whether the buyer and seller may negotiate contractually for a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code?
A)The buyer and seller may not negotiate for a shorter time period to sue for breach of contract; instead,they must recognize the statute of limitations period established by the Uniform Commercial Code.
B)Without limitation,the buyer and seller may negotiate for a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code.
C)The buyer and seller may negotiate for a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code,so long as the contractually-agreed-upon time period is not for less than one year.
D)The buyer and seller may negotiate for a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code,so long as the contractually-agreed-upon time period is not for less than six months.
E)The buyer and seller may negotiate for a shorter time period to sue for breach of contract than the statute of limitations period ordinarily recognized by the Uniform Commercial Code,so long as the time period is not for less than two years.

Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code,the buyer and seller are free to negotiate contractually a shorter time period to sue for breach of contract than the four-year statute of limitations ordinarily recognized by the Uniform Commercial Code,so long as the contractually-agreed-upon time period is not for less than one year.They are not free to negotiate a longer time period than four years.

Which of the Following Is True Regarding Whether the Buyer