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Ch12-Assignment

Ch12-Assignment

Q Answer the following questions: 1. What are the respective obligations of the parties under a contract for the sale or lease of goods/ 2. What is the perfect tender rule? What are some important exceptions to this rule that apply to sales and lease contracts? 3. What options are available to the non-breaching party when the other party to a sales or lease contract repudiates the contract prior to the time for performance? 4. What remedies are available to a seller or lessor when the buyer or lessee breaches the contract? 5. What implied warranties arise under the UCC?

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1. In the presentation of a deals or rent contract, the fundamental commitment of the vender or lessor is to move and convey adjusting products. Under the UCC, a legally binding commitment may emerge regardless of whether the understanding has open terms. Under Section 2-204(3), such an understanding available to be purchased isn't voidable for uncertainty, as in the precedent-based law, if the gatherings have planned to create an agreement and the court can discover a sensibly certain reason for giving a suitable cure (Whaley & McJohn, 2019).