Which statement is true regarding the sources of laws that interpret sales contracts? Multiple Choice Two...
Which statement is true regarding the sources of laws that interpret sales contracts?
Multiple Choice
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Two sources of laws that interpret sales contracts exist: state common law and state statutory law.
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Three sources of laws that interpret sales contracts exist: state common law, the Uniform Commercial Code, and state statutory law.
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The Uniform Commercial code is the only source of law interpreting sales contracts.
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Two sources of laws that interpret sales contracts exist: state common law and the Uniform Commercial Code.
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Two sources of laws that interpret sales contracts exist: the Uniform Commercial Code and state statutory law.
Homework Answers
The correct option is
B- Three sources of laws that interpret sales contracts to exist state common law, the Uniform Commercial Code, and state statutory law.
Explanation- Uniform commercial code is the law that covers and governs all the commercial transactions in the USA. The sales contracts also come under commercial transactions. State statutory laws are written by a legislative body and also interpret the sales contracts. The state common laws are based on the legal precedents and are unwritten laws established by the courts.
All the tree laws interpret the sales contract.
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Which statement is true
regarding the sources of laws that interpret sales contracts?
Multiple Choice
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