Under the UCC, if a merchant-seller gives a signed, written assurance to a buyer that an offer will remain open for six months, the offer is legally irrevocable for the entire six-month period even without consideration., True , False, A construction firm contracts to buy a custom-designed HVAC system for $50,000, which includes $40,000 for the unit and $10,000 for installation and calibration. If the system fails, and the court must decide whether the UCC or Common Law applies to the dispute, they will use:, The Mirror Image Rule., The Predominant-Factor Test., The Statute of Frauds., The Parol Evidence Rule., Under the UCC Statute of Frauds, a contract for the sale of goods must generally be in writing if the price is:, $100 or more, $300 or more, $500 or more, $1,000 or more, Merchants and non-merchants are held to the same standard of conduct under the UCC., True, False, Under the UCC, a merchant is:, Any person who enters into a contract, A person who deals regularly in goods of the kind involved in the transaction, Only a large corporation, A government employee, When a seller ships nonconforming goods but clearly notifies the buyer that the shipment is offered only as an accommodation, the shipment is treated as:, Acceptance and breach, Rejection of the offer, A counteroffer, Automatic cancellation of the contract, Under UCC 2-209, a modification of a sales contract:, Always requires new consideration, Is binding without consideration if made in good faith, Must always be oral, Is never enforceable, If both parties are merchants, additional terms in an acceptance automatically become part of the contract unless they materially alter it, the offer limits acceptance, or the offeror objects in a reasonable time., True, False.

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