Question

Business Law

3.How are merchant to merchant sales given special contract conditions under the UCC ?

4. In the famous “Fight to Remember” Iron Mike Tyson was disqualified in the first round for biting the ear of his opponent. Were disappointed fans entitled to refunds as third party beneficiaries to the contracted boxing match? Explain how contract law applies to third parties who seek a contract benefit.

5. You contract with a painter you trust to paint your new office reflecting your personal taste and status. When overbooked, the painter delegates the work to another painter without permission. The paint job looks OK to friends but you personally feel you should pay less than the contract. Did the painter breach your express agreement? Explain the related law.

Answer 1

3. UCC stands for Uniform Commercial Code which governs the Contract law. It specifies the rules and regulations which includes Sales of goods related, leasing, use of negotiable instruments, banking transactions and many more.

"Merchant" is the person who deals in goods and services who have the knowledge and skills of it.

Between Merchants means that the means of contract would be in between two parties are chargeable with knowledge or skills of merchants.

Merchant to Merchant Sales given special contact condition under UCC as the first condition is that the merchant should know about the business wellbeing. He is having the knowledge about the business process and he acquires the technical skills. If there is Merchant in between contract then the Statute of Frauds should be there. This says that the product which has been more than in $500 price then the contract is not enforceable by way of action or defense. This happens unless there is some writing stuff which proves that the contract is legal between two parties and are signed by both of them.