Asked by
Harmandeep Kaur Cheema
on Nov 27, 2024Verified
Under the UCC, the meaning of any agreement must be interpreted in light of commercial practices, so a court will not assume that the usage of trade was taken into account when the agreement was phrased.
Usage Of Trade
Any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question.
Commercial Practices
Activities, methods, and ethics involved in conducting business and trading of goods and services in the marketplace.
- Understand the principles and applications of the Uniform Commercial Code (UCC) regarding sales and leases of goods.
Verified Answer
RC
Learning Objectives
- Understand the principles and applications of the Uniform Commercial Code (UCC) regarding sales and leases of goods.