UCC BASICS
What does UCC stand for?
Uniform Commercial Code
What’s a “good” under the UCC?
Something moveable you can touch
What is a merchant?
Someone who sells things often
When must a sales contract be written?
If it’s for $500 or more
What does “unconscionable” mean?
Very unfair
What kind of contracts does the UCC cover?
Sale of goods
What’s not a good?
Services, land, money
Who has more rules: merchant or casual seller?
Merchant
What helps prove a contract?
A written and signed paper
What’s wrong with take-it-or-leave-it contracts?
One side has no say
What is a bill of sale?
Proof of ownership
What is a sale?
When ownership changes right away
What’s a contract of adhesion?
A take-it-or-leave-it deal
Can oral deals ever be legal?
Yes, sometimes
Can a bad deal be legal?
Yes, unless it’s very unfair
Can a sales contract be spoken?
Yes
What’s a contract to sell?
Ownership changes later
Can merchants add new terms easier?
Yes
What if only part of it is paid for?
Only that part counts
What makes a deal unconscionable?
Unfair process + unfair terms
What are concurrent conditions?
Payment and delivery happen together
Why is price important in a sale?
Shows agreement
Why are merchants held to higher standards?
They’re experts
What shows acceptance of goods?
Using them or not rejecting them
Do courts cancel every bad contract?
No, only really unfair ones