Question

a. What does the UCC provide as to offer and acceptance?

b. What is the law regarding the formation of a contract without settling on a price?

c. What is the statute of limitations regarding contracts for the sale of goods?

Answer 1

1)UCC provide the following as to offer and acceptance:

1) Unless otherwise unambiguously indicated by the language or circumstances:

a) On offer to make a contract shall be construed as inviting acceptance in any manner

b) An order or other offer to buy goods for prompt or current shipment shall be construed as inviting acceptance either by a prompt promise to ship or by a prompt or current shipment of confirming or nonconforming goods , but such a shipment of nonconforming goods doesn't constitute an acceptance,if the seller notifies the buyer the shipment is offered only as an accommodation to the buyer

2) Where the beginning of a requested performance is a reasonable mode of acceptance ,an offeror who is not notified of acceptance with in a reasonable time may treat the offer as having lapsed before acceptance

2)Law regarding formation of a contract with out settling on a price:

1) The parties if they so intend can conclude a contract of sale even though the price is not settled.In such a case the price is a reasonable price at the time for delivery if,

a) Nothing is said as to price or,

b) Price is left to be agreed by the parties and they fail to agree.

2)A price to be fixed by seller or by buyer means a price for him to fix in good faith

3rd question: Contract rules for sale of goods:

Contract law is a vast and ancient subject.Article 2 of UCC deals with law regarding the sale of goods .It contains over 100 different sections.it covers an intentionally general fashion - such matters as contract formation , contractual obligation of the sellers and buyers,rules for performing on a contract,what constitutes breach of contract and remedies for the breach of contract