U.C.C. § 1 - 305

Remedies to be liberally Administered

(a) The remedies provided by [the uniform Commercial Code] must be liberally administered to the end that the aggrieved party may be put in a good position as if the other party had fully performed but neither consequential or special damages nor penal damages may be had except as specifically provided in [the U.C.C.] or by the rule of law.

        (b)  Any right or obligation declared by [U.C.C.] is enforceable by action unless the provision declaring it specifies a different and limited effect.

U.C.C. § 2 -102 

Scope: Certain Security and other Transactions Excluded From this Article.

U.C,C, § 2 - 105

Definition of transferability:"Goods", "future" goods "lot": "commercial unit". Goods meaning all things (including specially manufactured goods) which are moveable at the time of identification to the contract  for sale other than the money in which the price is to be paid. investment securities (article 8) and things in action. "Goods" also includes the unborn young of animals and growing crops and other identified things attached to realty as described in the section on goods to be severed from realty (section 2-107).

U.C,C, § 2 - 105

Definition of transferability:"Goods", "future" goods "lot": "commercial unit". Goods meaning all things (including specially manufactured goods) which are moveable at the time of identification to the contract  for sale other than the money in which the price is to be paid. investment securities (article 8) and things in action. "Goods" also includes the unborn young of animals and growing crops and other identified things attached to realty as described in the section on goods to be severed from realty (section 2-107).

U.C,C, § 2 - 105

Definition of transferability:"Goods", "future" goods "lot": "commercial unit". Goods meaning all things (including specially manufactured goods) which are moveable at the time of identification to the contract  for sale other than the money in which the price is to be paid. investment securities (article 8) and things in action. "Goods" also includes the unborn young of animals and growing crops and other identified things attached to realty as described in the section on goods to be severed from realty (section 2-107).

R2K § 75

Exchange of Promise for Promise

A promise which is bargained for is consideration if, but only if, the promised performance would be consideration.

R2K § 81

Consideration as a motive or inducing cause

(1) The fact that what is bargained for does not of itself induce the making of a promise does not prevent it from being consideration for the promise.

(2) the fact that a promise does not of itself induce performance or return promise does not prevent the performance or return promise from being consideration for the promise.

R2K §87

Option contract

(1) an offer is binding as an option contract if it (2) is in writing and (3) signed by the offeror, (4) recites a purported consideration for the making of the offer.(5) and purposes an exchange on fair terms within a reasonable time:(6) or is made irrevocable by statute.

An offer in which the offeror should reasonable except to induce action or forbearance of a substantial character on the part of the offeree before acceptance and which does induce such action or forbearance is binding as an option contract to the extent that is necessary to avoid injustice.

U.C.C. § 1 - 304

Obligation of Good Faith

Every contract or duty within [UCC] imposes an obligation of good faith in its performance and enforcement.