LEGL 2700 Roessing Exam 2 Q&A Latest Update 2025
Course:
LEGL 2700
Institution:
LEGL 2700
LEGL 2700 Roessing Exam 2 Q&A Latest Update 2025
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| Uploaded on: | April 28, 2025 |
| Last updated: | May 12, 2025 |
| Number of pages: | 18 |
| Written in: | 2025/2026 |
| Type: | Exam (elaborations) |
| Contains: | Questions & Answers |
| Tags: | LEGL 2700 Roessing Exam 2 Q&A Latest Update 2025 |
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LEGL 2700 Roessing Exam 2 | Q&A Latest 2025/2026 | 100% PASS Promise - Answer -A commitment or willingness to be bound to a contract obligation Uniform Commercial Code (UCC) - Answer -The most successful attempt to have states adopt a uniform law Purpose is to simplify, clarify, and modernize the laws governing commercial transactions Goods - Answer -Tangible (touchable), movable personal property Bilateral Contract - Answer -Promise in exchange for a promise Involves promisor and promisee Usually made to a specific person Acceptance, then performance later Binding even when promise hasn't been fulfilled yet Ex) work order to paint house Unilateral Contract - Answer -Promise in exchange for an action Made to the whole world Acceptance and performance happen at the same time Not binding until action has been done
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