Question

When a sales contract is missing terms on when a payment is due, and if the involved parties have not had an established course of past conduct, the Uniform Commercial Code (UCC) requires that the payment be made at least seven working days before the seller makes delivery.

True or False?

Answer 1

False

Step-by-step explanation:

The provision of the Uniform Commercial Code as amended is that any missing terms such as price, quantity,location and expected time of delivery as well as payment terms can be added to the contract later on with consent of all parties involved or provided in compliance with other commercial codes.

In other words,the fact that payment should be made within seven working days when payment terms are missing is alien to Uniform Commercial Code.

The answer, therefore is false.