True or False: The UCC equivalent of a common law “option” is a “firm offer.” The “mirror image”...

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True or False:
The UCC equivalent of a common law “option” is a “firmoffer.”
The “mirror image” rule for common law acceptances has beenadopted by theUCC.
A firm offer under the UCC is irrevocable for up to sixmonths.
Unlike common law contracts, UCC contracts can be modifiedwithout new or additional consideration being provided.
For sales contracts, the UCC rejects the common law parolevidencerule.
A UCC contract for the sale of goods with a total price of $400or more must be in writing under the Statute of Frauds in order tobeenforceable.
The common law rule of substantial performance is very similarto the perfect tender rule adopted by theUCC.
Although common law contracts have adopted a number of UCCcontract performance doctrines, the obligation of good faith is notamongthem.
The UCC generally follows common law principles governingmitigation and liquidation of damages.
10. UCC Article 2 governs the sale of both real and personalproperty.

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Here are the answers for your questions 1 The UCC equivalent of a common law option is a firm offer TRUE 2 Thye mirror image rule for common law acceptances has been adaopted by the UCC TRUE 3 A firm offer under the UCC is irrevocable for up to See Answer

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