Asked by
Paramjas Singh
on Nov 27, 2024Verified
When the parties to a contract for a sale of goods do not specify a payment term, and the parties are unaware of the UCC's rules, those rules do not apply.
Payment Term
The conditions under which a seller will complete a sale, often specifying the period allowed to a buyer to pay off the amount due.
Unaware
The state of being ignorant of or not informed about something.
- Attain an understanding of the ambit and application of the Uniform Commercial Code (UCC) in the control of sales and leases of goods.
Verified Answer
SG
Learning Objectives
- Attain an understanding of the ambit and application of the Uniform Commercial Code (UCC) in the control of sales and leases of goods.
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