Explain the difference between a good and service in sales contracts. Discuss why it is easier to form a contract under the UCC than common law. Describe how a merchant is defined under the UCC. Why can this be an important concept in the sale of goods? Explain which law will govern a disputed contract if it involves both the sale of goods as well as an agreement to have services performed. Analyze the advantages and disadvantages of having the UCC govern sales contracts.

UAGC | BUS670 | Week 03 | Unlocking the UCC-A Guide to Fair Business Transactions [MUSIC PLAYING] Welcome to week three. Today, we're going to talk about the Uniform Commercial Code, also known as the UCC. It's a crucial set of laws that govern business transactions. The UCC's primary objective is to establish cansistency in commercial law throughout the United States. All states in the US have adopted the UCC, making it easier for businesses to engage in interstate commerce. This means that the laws remain the same across different jurisdictions. The UCC is organized into nine different articles, each applying to various business activities such as warranties, bank deposits, and secured transactions. One of the most important sections is Article, 2 which governs contracts involving the sale or lease of goods. The UCC shares many similarities with modern contract law. It aims to promaote fairness. The code attempts to identify the existence of an equitable and enforceable contract in most cases. In situations where agreements lack definite terms, the UCC offers gap-filling measures to establish a reasonable contract. Let's consider a scenario where a heavy equipment dealer agrees to sell three earth-moving machines to an excavating business, but the terms of delivery are not specified. In such cases, the UCC provides provisions to determine where the delivery will take place. Furthermore if the equipment gets damaged during delivery, the code will define who bears the risk of loss. The UCC also promotes fairness by imposing certain requirements on contracts. It differentiates between merchants and non- merchants. Merchants are held to a higher standard of conduct to prevent them from taking advantage of non-merchants. Remember, Article 2 of the UCC applies solely to the sale of goods, not services. When contracts involve both goods and services, courts may employ the predominant test to determine which law governs the contract. Your second discussion question involves the UCC. So | hope that this infoarmation will be useful in addressing it. That concludes our lesson on the Uniform Commercial Code, everyone. Remember, the UCC plays a vital role in ensuring fair and consistent business transactions across the United States. Make sure to review the material prior to the discussion. Have a great day, everyone. [MUSIC ENDS] Laws that Govern Contracts: The UCC and the Common Law [WLOs: 1, 2] [CLOs: 2, 5] [NACE: 2, 3, 5, 7] Prior to beginning work on this discussion forum, review Chapters 10 and 11 of the textbook. Also review Unlocking the UCC: A Guide to Fair Business Transactions video, and other resources related to contract law (The Westlaw = database in the UAGC Library would be a useful source of information for this purpose). In addition, you may want to research Article 2 of the UCC and the common law of contracts available at the Uniform Commercial Code > website. = BUS670: Week 3 Unlocking the UCC: A Guide to Fair Business Transactions &, The two primary areas of law that govern contracts are the Uniform Commercial Code (UCC) and the common law. While the UCC covers several different business transactions, the focus of this assignment will be the sale of goods which is governed by Article 2. The common law covers transactions of items which are not goods, so it relates to a major portion of the economy - namely, services. Review the resources and then address the following: Explain the difference between a good and service in sales contracts. Discuss why it is easier to form a contract under the UCC than common law. e Describe how a merchant is defined under the UCC. Why can this be an important concept in the sale of goods? Explain which law will govern a disputed contract if it involves both the sale of goods as well as an agreement to have services performed. Analyze the advantages and disadvantages of having the UCC govern sales contracts