DISCUSSION BOARD PROMPT: What types of transactions are governed by UCC Ar
DISCUSSION BOARD PROMPT:
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What types of transactions are governed by UCC Article 2? Under UCC Article 2, what is a merchant? How does UCC Article 2 treat a merchant differently than a non-merchant?
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What is a statute of frauds? What is the specific statute of frauds that applies to UCC Article 2 transactions?
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What is the perfect tender rule? What options does a purchaser have if goods do not conform perfectly?
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Consider the following short case study. Jeremy agreed to sell 10,000 widgets to Nancy at $100 per widget. Before Jeremy was about to tender the widgets, Nancy told Jeremy that she would not take the widgets. Jeremy then sold the widgets for $75 per widget on the open market. Jeremy sued Nancy for the difference (i.e., $25 per widget). Nancy counters that she was not notified of the resale on the open market and is therefore not liable. Who is correct? Why?
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