This page contains the Learning Resources for this week. Be sure to scroll down the page to see all of this week’s assigned Learning Resources. To access select media resources, please use the media players below and/or the course DVD (as applicable).
Miller, R. (2014). Business law today: The essentials (10th ed.). Mason, OH: Cengage Learning.
- Chapter 10, “Sales and Lease Contracts”
- Chapter 11, “Performance and Breach in Sales and Leases Contracts”
- Chapter 23, “Personal Property, Bailments, and Insurance” (pp. 660–668 only)
- Chapter 24, “Real Property and Environmental Law” (pp. 687–7 00 only)
Chapters 10 and 11 discuss sales and leases. The main focus of Chapter 11 is the establishment of the Uniform Commercial Code (UCC), and in particular Article 2, which deals with sales of goods and Article 2-A with governs contracts for the lease of goods. Chapter 11 continues on the topic of sales and leases, focusing on the obligations of the seller or lessor and recourses for breach of contract. The selection in Chapter 23 discusses the definition of personal property, how it can be acquired or transferred, and laws dealing with mislaid, lost, or abandoned property. Chapter 24 deals with the concept of real property, also called real estate and the laws governing ownership and transfer of ownership of property.
Week 6 Overview
Note: The approximate length of this media piece is 14 minutes.
Assignment: The Uniform Commercial Code
The Uniform Commercial Code (UCC) of the United States was first enacted in 1952 to conform and regulate sales and commercial transactions across all 50 states, the District of Columbia, and U.S. territories. Probably the most referenced sections of the UCC are Articles 2 and 2a which deal with sales and leases and what constitutes a binding legal contract.
After reviewing your resources for this week, prepare a 1- to 2-page response to the following:
- What are the general goals and purposes of Article 2 of the UCC?
- What is the greatest impact of the UCC on business in the United States?
- Why is it important that contract law for the sale of goods be the same in every state?
- How are contracts easier to form under the UCC than under the common law of contracts?
- What is needed to create an irrevocable offer?
Your written assignments must follow APA guidelines. Be sure to support your work with specific citations from this week’s Learning Resources and additional scholarly sources as appropriate.