to be remedied, there must exist a valid contract. Uniform Commercial Code (UCC) Contract for the sale of goods as defined by the UCC is all things, which are moveable at the time of identification to the contract. Here, the transaction between buyer and seller involved the sale of bees and hives, which are movable and identifiable at the time of the contract; therefore, UCC rather than the Common law governs this transaction. Merchant UCC defines merchant as a person who deals in goods of the
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extinguishing system. This was a bilateral contract agreement in which involved two promises and two performances. The Marine Corps paid Company A money for a product. This type contract violation is governed by state statue laws based on the Uniform Commercial Code (UCC) (Melvin, 2011). The author also noticed the Marines started procuring a second order for 3500 fire systems matching the cost of the original order. They were in the right to do so and I sure this did not violate any part of the first
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salesperson were aware of the change prior to entering into the purchase contract. This short paper will begin by examining the ability of these parties to rescind the contract due to mutual mistake. Next, the ethics and application of the Uniform Commercial Code (U.C.C.) will be further explained. Following these objectives, and in review of overall context of contract law, I will determine if any winners or losers are created when a contract is rescinded based on mutual mistake of fact. Finally,
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| The Criteria That Determine Sole Proprietorships | Not all corporations started as a corporate entity. Many businesses start out small with one owner. They are known as sole proprietorships, the simplest and most widespread form of business formation in the United States. Certain criteria are used to determine sole proprietorship status. A sole proprietorship: * is owned by a single individual When you are planning to do business with a sole proprietorship, bear in mind that since a single
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Chapter 20 What constitutes a Breach of Contract? * The question of remedies does not become important until it is first determined that a contract has been violated or breached. Breach - failure to act or perform in the manner called for in a contract. Anticipatory breach – Promisor’s repudiation of the contract prior to the time that performance is required when such repudiation is accepted by the promisee as a breach of the contract. Anticipatory repudiation - repudiation made
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Final Paper – Acme Fireworks As the manager for Acme Fireworks, I have been asked to determine if common law or the Uniform Commercial Code (UCC) will govern the contracts entered into by Acme Fireworks. In addition, I am to analyze whether the five essential elements of a contract have been met. Acme Fireworks is currently licensed as a sole proprietorship. As such, I will examine any potential personal liability they may have if a spectator was to get injured during a firework display. Further
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Elements of a Contract Week 3 Assignment Bus: 670 Legal Environment Micah Blount Prof. Jennifer Stephens February 17, 2014 Introduction The goals of a contract are to ascertain the concord that the parties have prepared and to allot their privileges and responsibilities in accordance with that contract. The legal courts should implement a legitimate contract as it is created, unless there are basis that affect its enforcement. It is the purpose of the decree to promote the development
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more planned out and developed plan. When common law or the Uniformed Commercial Code (UCC) governs contracts, the difference between the two will drive how disputes are resolved. As a result of this concerted effort by some of this country’s leading legal experts, the UCC was enacted in whole or in part with only small changes by the legislatures of all states. While the UCC represents a significant effort toward a uniform national law, it should be remembered that there would still be variations
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considering changing the business entity, but he does not know what entity to form or how to form it. The owner has asked you to do the following: Determine if the contracts with the businesses will be governed by common law or the Uniform Commercial Code (UCC), and explain why. Analyze whether the owner formed a contract with the businesses, and apply the five essential elements of an enforceable contract. Explain the potential personal liability to Acme Fireworks if a spectator is injured
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years after leaving our employ.” First, it is crucial to know and understand which law governs the employment contract. According to Seaquist, contract law is governed by the common law or the Uniform Commercial Code (UCC) (Seaquist, 2012). If the contract handles the sales of goods, it is governed by the UCC (Seaquist, 2012). If the contract handles anything besides the sale of goods (such as real estate, insurance, personal services like employment, etc.) then it is governed by the common law (Seaquist
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