Patsy is shopping for a used car. She finds a car she likes at Morley Motors. Discuss how the UCC views each party and the standard of conduct it imposes on the parties in performing the sales transaction


The UCC imposes a duty of good faith in the performance of all contracts. The UCC frequently holds a merchant to a higher standard of conduct than a non-merchant. A merchant is someone who routinely deals in the particular goods involved, or who appears to have special knowledge or skill in those goods, or who uses agents with special knowledge or skill in those goods. Morley Motors is a merchant when it comes to selling autos because it routinely deals in cars. For a merchant, good faith means honesty in fact plus the exercise of reasonable commercial standards of fair dealing. Patsy is not a merchant in cars and would be held to a lower standard of conduct. For non-merchants, good faith means honesty in fact. Thus, when performing the sales contract, neither Patsy nor Morley Motors may lie or mislead the other party. Morley must also act as fairly as the business community routinely expects.

Business

You might also like to view...

Customer value refers to

A. the need of a customer to receive the highest quality product at the lowest possible price. B. the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. C. a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers. D. the least expensive product that will provide it with most of the basic benefits. E. the cluster of benefits that an organization promises customers to satisfy their needs.

Business

You are __________ to commit a Type I error using the 0.05 level of significance than using the 0.01 level of significance. 

A. more likely B. less likely C. equally likely D. twice as likely 

Business

According to the service profit chain, superior internal service quality results in ________

A) lesser service value B) increased word-of-mouth sales C) reduced after-sale services D) more satisfied, loyal, and hardworking employees E) negative brand equity of newly launched products

Business

What part(s) of speech is the word yesterday?

What will be an ideal response?

Business