Question

UCC contract law would apply if you were selling your house. T/F

If a single contract deals with both goods and services, the portion concerning goods is governed by UCC and the portion concerning services is governed by UCC. T/F
If you enter into a contract with a minor, either of you can later decide to cancel the contract even if the other party does not want to do so. T/F
Statute of Frauds requires that all contracts under the UCC be in writing. T/F

Answer 1

1. False. UCC contract law does not apply to the sale of real estate (such as a house). Real estate transactions are typically governed by different laws and regulations.

2. False. If a single contract deals with both goods and services, the UCC (Uniform Commercial Code) governs the portion concerning goods, while other relevant laws or regulations govern the portion concerning services. The UCC specifically applies to transactions involving the sale of goods.

3. True. In general, contracts entered into with minors (individuals below the age of legal adulthood) are considered voidable. This means that either party, including the minor, can choose to cancel the contract. However, there are certain exceptions and limitations depending on jurisdiction and the specific circumstances.

4. False. The Statute of Frauds under the UCC requires that certain types of contracts be in writing to be enforceable, but not all contracts. Specifically, contracts for the sale of goods valued at $500 or more are required to be in writing. However, there are exceptions to this requirement, such as when the goods have been accepted or when partial performance has occurred.