According to Exhibit 21-6 of the text,which of the following statements about material terms under the UCC and the common law is true?
A)Under both UCC and common law,all material terms other than price must be specified in the contract.
B)Under both UCC and common law,material terms may be left open for subsequent determination by the parties.
C)Under common law,all material terms must be specified in the contract,but under the UCC,material terms may be left open.
D)Under both UCC and common law,all material terms must be specified in the contract.
E)Under the UCC,all material terms must be specified in the contract,but under common law,material terms may be left open.

Question

Quizplus · Accepted Answer

A)According to Exhibit 21-6 of the text,under common law,all material terms must be specific,but under the UCC,terms may be left open for subsequent determination by the parties e.g.final price.
B)According to Exhibit 21-6 of the text,under common law,all material terms must be specific,but under the UCC,terms may be left open for subsequent determination by the parties e.g.final price.

According to Exhibit 21-6 of the Text,which of the Following