Question
Bridget contracts with Hunter to purchase $30,000 worth of goods for her store. Hunter wants a clause in the contract stating that neither party will
Bridget contracts with Hunter to purchase $30,000 worth of goods for her store. Hunter wants a clause in the contract stating that neither party will sue the other after one year from the date of breach of contract. Which of the following is true of this situation?
- Parties are not allowed to provide time limits in their sales agreements, since the UCC sets this time.
- The courts must review the time limits the parties have determined in the sales agreement as reasonable.
- The UCC allows parties to shorten the time limit to bring a suit to a minimum of one year.
- Competent and informed parties can agree to set any time limit to sue for breach of contract.
Step by Step Solution
3.50 Rating (160 Votes )
There are 3 Steps involved in it
Step: 1
Bridget contracts with Hunter to purchase 30000 of goods f...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App