FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Alaskan Seafood Enterprises Inc., a wholesaler of fresh fish, agrees with Red Lobster Inc. to sell 1,200 boxes of fresh-caught lobsters at 'market value.' The

Alaskan Seafood Enterprises Inc., a wholesaler of fresh fish, agrees with Red Lobster Inc. to sell 1,200 boxes of fresh-caught lobsters at 'market value.' The contract is unenforceable because the Uniform Commercial Code (UCC) requires a price for the goods.
true
false

Step by Step Solution

★★★★★

3.45 Rating (152 Votes )

There are 3 Steps involved in it

Step: 1

False The statement is false The Uniform Commercial Code UCC does not necessar... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Smith and Roberson Business Law

Smith and Roberson Business Law

Authors: Richard A. Mann, Barry S. Roberts

15th Edition

1285141903, 1285141903, 9781285141909, 978-0538473637

More Books

Students also viewed these General Management questions

Question

★★★★★
New World Inc. plans to fully acquire Old World Inc. New World's current share price is $54, it has 8 million shares outstanding, and it has outstanding debt of $72 million. Old World's current share...

Answered: 1 week ago

Question

★★★★★
The Madsion Avenue Ad Agency (Madison') agrees to promote Umbridge's Umbrellas. In exchange., Madison is to receive 10% of gross profits. Later, Umbridge claims that the contract is unenforceable...

Answered: 1 week ago

Question

★★★★★
Appellants, personal representatives of the estate of George Herbert Jackson, appeal the probate courts order of conveyance in favor of appellees. Appellants claim a writing signed by George Jackson...

Answered: 1 week ago

Question

★★★★★
What is the capacity for each of the containers in Problems 4754? (Give answers in the U.S. system to the nearest tenth of a gallon or in metric to the nearest tenth of a liter.) Orange 25 cm Juice...

Answered: 1 week ago

Question

★★★★★
The following data are accumulated by Paxton Company in evaluating the purchase of $150,000 of equipment having a four-year useful life: Net Income Net Cash Flow Year...

Answered: 1 week ago

Question

★★★★★
Evaluate the current trend and direction in copyright law.

Answered: 1 week ago

Question

★★★★★
=+13. The analyst from Exercise 11, worried about collinearity, regresses Age against Past Spending, Income, and Networth. The output shows: Response Variable: Age R2 = 98.75% Adjusted R2 = 98.74% s...

Answered: 1 week ago

Question

★★★★★
Shaws Garden was started on May 1 with an investment of $45,000 cash. Following are the assets, liabilities, and common stock of the company on May 31, 2014, and the revenues and expenses for the...

Answered: 1 week ago

Question

★★★★★
data structure and algorithms Fill the following blanks that refer to the following tree: The tree size The tree height The tree degree The number of nodes at level 2 The width of the tree How long...

Answered: 1 week ago

Question

★★★★★
Select all that apply Actual output is used for variance calculations because Blank______. Multiple select question. budgeted output although useful for planning is outdated for analyzing performance...

Answered: 1 week ago

Question

★★★★★
It is recommended to code width and height dimensions for images because: Question 3 9 options: if you omit them, the browser won't display the image. the browser will be more efficient and the page...

Answered: 1 week ago

Question

★★★★★
Futura Company purchases the 55,000 starters that it installs in its standard line of farm tractors from a supplier for the price of $12.10 per unit. Due to a reduction in output, the company now has...

Answered: 1 week ago

Question

★★★★★
match the following: i. Controller ii. CFO iii. Treasurer iv. CEO 1. explains earnings results and forecasts to shareholders as well as media 2. Manages internal accounting systems, prepares...

Answered: 1 week ago

Question

★★★★★
Problem 7. [Call auction] Graph total market demand and supply curves in {price, quantity} space for a call auction market where the following orders are submitted to a central auctioneer: Limit...

Answered: 1 week ago

Question

★★★★★
QUESTION 2 (word limit: 200) Larry works as a self-employed gardener for X Ltd. There is no question of Gary being an employee. During the evening, Larry works for another company, Y Ltd., as a...

Answered: 1 week ago

Question

★★★★★
Gregoyle Ltd. a large oil refining company jointly processes purchased hydrocarbons to generate 3 non-saleable intermediate products: ICR8, ING4 and XGE3. Gregoyle's joint processing costs for these...

Answered: 1 week ago

Question

★★★★★
On January 1, 2016, Avee, Inc. issued a note with a face value of $83,000 and 8% coupon rate paid semiannually. On January 1, 2019, the note was three years from maturity and had a net book value of...

Answered: 1 week ago

Question

★★★★★
The percentage of completion and completed contract methods are described in the FASB ASC. Search the codification to find the paragraphs covering these topics, cite them, and copy the results.

Answered: 1 week ago

Question

★★★★★
On June 15, a newspaper columnist predicted that the coast of State X would be flooded on the following September 1. Relying on this pronouncement, Gullible quit his job and sold his property at a...

Answered: 1 week ago

Question

★★★★★
The subject of contention in this litigation is a valuable 17- story office building, located at 79 Madison Avenue in Manhattan. In dispute is the propriety of a complex series of transactions that...

Answered: 1 week ago

Question

★★★★★
Anthony and Karen were partners doing business as the Petite Garment Company. Leroy owned a dye plant that did much of the processing for the company. Anthony and Karen decided to offer Leroy an...

Answered: 1 week ago

Question

★★★★★
On January 1, 2020, Solomon Crafts issued 60,000 8-year bonds with $1,000 face value. External markets value the bonds at $630,000 more than face value. The stated rate of interest on Solomon's bonds...

Answered: 1 week ago

Question

★★★★★
On January 1, 2020, Garner Hot Rods issued $2,000,000 of 6%, 10-year bonds. Interest is payable semiannually on June 30 and December 31. Required: What is the issue price if the bonds are sold to...

Answered: 1 week ago

Question

★★★★★
Scott Corp. provides contracted home staging services to real estate agencies and their clients. Scott issued the following bonds in the current year: a. 1,500 bonds with $1,000 face value which the...

Answered: 1 week ago

Previous Question Next Question