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The Uniform Commercial Code (UCC) is a unified set of statutes designed to govern almost all of these transactions:
Real Estate Purchases
Commercial Transactions
Employment Contracts
2. The term “express contract” only applies to written contracts.
True
False
3. The “Statute of Frauds” provides that certain contracts must be in writing to be enforceable.
True
False
4. Which of the following is NOT an exception to the UCC rule that
contracts for the sale of goods of $500 or more must be in writing:
Specially manufactured goods that cannot be resold easily
Admissions in Court
Executed Agreements
Oral contracts between merchants with no written confirmation required
5. The parol evidence rule provides that oral statements made before
signing a written contract may always be used in court to change or
contradict the terms of the written contract.
True
False
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