Special Rules For Sales Contracts: Michael Fricke
Special Rules For Sales Contracts: Michael Fricke
Special Rules For Sales Contracts: Michael Fricke
Department of Accountancy
Michael Fricke
Module 2 Lesson 1
Introduction to UCC
Article 2
Introduction to UCC
Article 2
UCC Article 2
Contract Formation
Recall the Elements of a
Valid Contract:
Agreement (offer & acceptance)
Consideration
Capacity
Legality
Satisfies the Statute of Frauds
UCC Article 2: Offers
Admission in court
Parole Evidence Rule
Sale of Goods by
Non-Owners
Sale of Goods by Non-Owners
Question: If someone unlawfully
sells goods that belong to you, can
you get them back?
Answer: Depends on how they got
the goods
General rule: You can always
recover damages from the
wrongdoer
Goods Obtained via
Fraud
Types of warranties
Express
Implied
Warranties for Sales of
Goods
“As-is” disclaimer
Implied warranty of fitness for a
particular purpose disclaimer
Implied warranty of merchantability
disclaimer
Express warranties cannot be
disclaimed