Description

when someone sells a car to a friend (they are not in the car business) and when merchants (UCC) enter into contracts.

Why do you think the UCC is or is not important to merchants in order to effectively do business? Be sure to give examples. (Hint: Discuss how a common law contract is different from a contract between merchants under the UCC. Then explain why you feel the UCC difference is or is not important to merchants.)

What ethical considerations do you have when in a contractual relationship? (Hint: There are two factors in making business decisions we discussed so far in this class. Law. Statutes and Court decisions, and ethics. Discuss how ethics should be a consideration in making business decisions.)

what is Common law contracts?

what are Contracts covered by the Uniform Commercial Code (UCC)?

How common law contracts and contracts covered by the UCC compare and contrast?