Question

5. (True/False). Under the UCC, if certain contract terms, such as price or time of delivery are left open, it is not acceptable to fill in these terms. 6. (True/False). The "mirror image rule" is a UCC principle which provides that the acceptance of an offer must be on identical terms to the offer. 7. This rule is a legal rule/concept that provides that the written sales contract is the final expression of the parties' agreement and neither party can provide additional evidence that alters or contradicts the written contract. a. Statute of Frauds Rule b. Parol Evidence Rule 8. Fill in the blanks below with either "UCC" or "Common Law" a. The provides that all material terms must be specific. provides that offers are revocable until acceptance unless b. The secured by consideration.

Answer 1

5. False ;

Reason : With common law, the offer, nature of work, price, quantity, and performance must be included in the contract, while the UCC only requires quantity to be included.

6. False ;

Reason : Mirror image rule applies to contracts for services or land (not goods, which are governed by the UCC). Under common law rules, if an acceptance contains different terms, it is a counter-offer, and that voids the origional contract.

7. Parol Evidence Rule

This concept prevents the introduction of evidence of prior negotiations and agreements that contradict or vary the contractual terms of already written and agreed contract by the parties’ involved in the agreement.

8. a. The Common Law provides that all material terms must be specific.

b. The Common Law provides that offers are revocable until acceptance unless secured by consideration