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a model of law and codes governing business transactions and interstate commerce intending to codify existing business practices.
The hope was for it to be adopted by all 50 states. 49 have - not Louisana.
Generally understood business practices between merchants as to the sales of goods. |
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| North Carolina General statutes chapter 25 where you'll find the UCC. |
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| This article in the NCGS Ch. 25 provides laws/code regarding the "sale of goods". |
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| a transfer of title to property for money or its equivalent from seller to buyer |
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all things moveable; all personal property or movables, commodities, including futures and fungibles.
Fungible - exchangeable |
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| a person who deals in goods of the kind being sold or, who by his "occupation" holds himself out as an expert. A merchant can be a buyer too. |
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| an action undertaken without consideration for the benefit of another person |
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| a statement of an offer in a signed writing. |
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| the acceptance must be the mirror image of the offer and the offeree must accept the offer without changing it. |
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| common law rule - if we are exchanging forms that have inconsistent provisions, then the LAST form before performance controls. |
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| terms of a contract that are written in the K bargained for by the parties |
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| all the terms are already written in on the form; it is the fine print on the form not necessarily discussed by the parties |
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| honest in fact; ncgs 25-1-203 |
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| the circumstance surrounding a contract which indicates that one party is treated unfairly by the other |
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| certain contracts have to be in writing and certain writings are needed to end a K unless be bound by it. |
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