Question

Which of the following sections of the Uniform Commercial Code addresses the requirement of a writing when the total price for a sale of goods is $500 or more? A) 2-201 B) 1-101 C) 3-102 D) 2-305 Оа Ob od

Answer 1

The Uniform Commercial Code (UCC) section that addresses the requirement of a writing for the sale of goods at $500 or more is section 2-201, which is the correct answer to the question. The correct option is A) 2-201.

Step-by-step explanation:

The requirement of a writing for the sale of goods priced at $500 or more is addressed in the Uniform Commercial Code (UCC), specifically in the section of the UCC that deals with sales.

The answer to which section requires this is 2-201. This section is often referred to as the Statute of Frauds provision of the UCC, and it mandates that for the sale of goods costing $500 or more, there must be sufficient written record to indicate that a sale has taken place, and it should be signed by the party against whom enforcement is sought.

This requirement helps prevent misunderstandings and fraud by providing clear documentation of the terms of the sale.

However, the UCC also provides several exceptions to this requirement, such as when goods have been specially manufactured for a buyer and cannot be sold to others, or if the party being sued has acknowledged in court that a contract was made. In these cases, formal written documentation may not be strictly necessary.