Car Sales in America Coming off a Record Year 3) According to the textbook, which of the following is a correct statement regarding the formation of contracts as it applies to the new vehicles discussed in the video? The purchase of new vehicles is defined under Article 2A of the Uniform Commercial Code because most vehicles are purchased through consumer loans. The purchase of a new vehicle is governed by Article 4 of the UCC The purchase of a new vehicle is governed under the common law. The purchase of a new vehicle is the purchase of a "good" as that term is defined by Article 2 of the Uniform Commercial Code. The purchase of a new vehicle is governed by Article 3 of the UCC 4) According to the video, 70% of new car buyers suffer "buyers' remorse" after purchasing a new vehicle. What is one way the Uniform Commercial Code Article 2 helps buyers protect against their own remorse? a The mirror image rule applies to a vehicle contract. The UCC requires that each and every b term of a contract be agreed to before a sale of "goods" contract may be executed between the parties. The UCC has numerous provisions to help parties amend contracts through writings and permits that additional terms can be easily added to a contract between the parties. The UCC allows a merchant to be flexible with a consumer and to change the price from a firm offer as the merchant sees fit. The open payment term of Article 2 is