Carla has a contract with Alexis in which Alexis is to deliver 1,000 hand-decorated beverage holders in 60 days. When Carla calls the Psychic Hotline for her weekly reading, the psychic informs her that she has entered into a contract and the other party will not perform all the conditions and specifications in accordance with the agreement. Based on this knowledge, Carla may sue for an anticipatory repudiation.

t/f

Under the UCC, open terms, or missing provisions in a contract, are

Multiple Choice

• entirely acceptable so long as there is evidence the parties intended to enter into a contract and other terms are sufficiently articulated to provide for remedy in the case of a breach.
• absolutely forbidden and void the contract.
• never acceptable because the UCC requires that all commercial transactions for the sales of goods be outlined with specificity and thoroughness.
• only allowed if the open term is quantity.

Every state has adopted all (or substantially all) of Article 2 of the UCC.

True

False

Article 2 rules for acceptance of offers are more rigid than common law rules.

t/f

UCC risk of loss provisions will govern the terms of a contract even if the parties have specified risk allocation in the contract.

t/f