Common law v. Article 2 Sale of Goods Flashcards
1
Q
What are goods?
A
all things movable at the time they are identified as the items to be sold under the contracts.
2
Q
What is a merchant?
A
one who regularly deals in goods of the kind sold or who otherwise by his profession holds himself out as having special knowledge or skills as to the practices or goods involved. (must be acting in merchant capacity to apply)
3
Q
What is the duty of good faith?
A
The UCC imposes an obligation of good faith in its performance and enforcement. Good faith is honesty in fact and the observance of reasonable commercial standards.
