_____ and contract law developed together, because having choices in society mea
ID: 343243 • Letter: #
Question
_____ and contract law developed together, because having choices in society means that people decide and agree to do things with and to each other, and those agreements bind the parties.
Question 11 options:
Communism
Capitalism
Economics
Socialism
Fascism
Which of the following will be enforceable under UCC?
Question 14 options:
On January 1, 1998, Hannah makes an oral agreement to pay $4,000 to Harry for his bike by June 1, 1999.
On January 1, 1998, Hannah makes an oral agreement to pay $700 to Harry for his bike on June 1, 1999.
On January 1, 1998, Hannah makes an oral contract to pay $4,000 to Harry for his bike which she has received and accepted by June 1, 1999.
On January 1, 1998, Hannah makes an oral agreement to pay $4,000 to Harry for his bike on June 1, 1999.
On January 1, 1998, Hannah makes an oral agreement to pay $6,000 to Harry for his house.
Communism
Capitalism
Economics
Socialism
Fascism
Which of the following will be enforceable under UCC?
Question 14 options:
On January 1, 1998, Hannah makes an oral agreement to pay $4,000 to Harry for his bike by June 1, 1999.
On January 1, 1998, Hannah makes an oral agreement to pay $700 to Harry for his bike on June 1, 1999.
On January 1, 1998, Hannah makes an oral contract to pay $4,000 to Harry for his bike which she has received and accepted by June 1, 1999.
On January 1, 1998, Hannah makes an oral agreement to pay $4,000 to Harry for his bike on June 1, 1999.
On January 1, 1998, Hannah makes an oral agreement to pay $6,000 to Harry for his house.
Explanation / Answer
1, The answer is Option b : Capitalism.
CAPITALISM and contract law developed together, because having choices in society means that people decide and agree to do things with and to each other, and those agreements bind the parties.
Contract law got developed when the feudalistic structures were abolished. The position of any person in society got determined by personal choice and mutual agreement instead of status or how and where the person was born.
2) UCC is the Uniform Commercial Code and is a uniform state law in US. It is a basic law relevant to business in every state. Contracts can be oral, written, explicit and implied. Contracts are classified as per 4 dimensions which are explicitness, mutuality, enforceability and degree of completion.
A contract is unenforceable if it is illegal ie a void contract or a voidable contract.
From the given options, Option C is enforceable under UCC : On January 1, 1998, Hannah makes an oral contract to pay $4,000 to Harry for his bike which she has received and accepted by June 1, 1999.
Here, Hannah has made a contract and also received and accepted the bike too.
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