Question 48 Which of the following is a true statement? O The Uniform Commercial Code governs contracts involving real property and personal property leases. The adoption of the Uniform Commercial Code has completely eliminated the need for the common law in the area of contracts. O The Uniform Commercial Code only applies to a contract if the parties explicitly state so in their contract O The Uniform Commercial Code takes precedence over the common law of contracts regarding contracts for the sale of goods. B Question 49 A problem with the theory of ethical relativism is: O Defining the appropriate "society" O The inability to make comparative moral judgments between and among societies. O The inability to criticize a society as immoral for its moral norms O All are problems Question 50 All written contracts that have a set of promises are O Formal O Valid Bilateral i O Executed 1 pts 1 pts: 1 pts